Diversify Wealth Management LLC Sells 857 Shares of CSX Co. (NASDAQ:CSX)

Diversify Wealth Management LLC decreased its holdings in shares of CSX Co. (NASDAQ:CSX) by 4.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 18,999 shares of the transportation company’s stock after selling 857 shares during the period. Diversify Wealth Management LLC’s holdings in CSX were worth $638,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in shares of CSX by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock valued at $2,418,883,000 after buying an additional 443,755 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in CSX by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock valued at $573,128,000 after acquiring an additional 1,060,204 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in CSX by 9.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock worth $415,466,000 after acquiring an additional 1,060,617 shares during the last quarter. Bank of Montreal Can grew its stake in shares of CSX by 38.7% in the 2nd quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock worth $225,917,000 after acquiring an additional 1,884,998 shares in the last quarter. Finally, Interval Partners LP raised its holdings in shares of CSX by 849.0% in the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock valued at $171,222,000 after purchasing an additional 4,579,344 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CSX shares. Bank of America cut shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Monday, July 8th. Stephens dropped their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Wells Fargo & Company decreased their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped their price objective on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Finally, Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of CSX in a research report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.61.

CSX Stock Performance

CSX stock opened at $33.64 on Friday. CSX Co. has a 1-year low of $29.28 and a 1-year high of $40.12. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $65.76 billion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. The firm’s 50 day simple moving average is $34.02 and its 200 day simple moving average is $33.81.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. As a group, analysts expect that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.