Atria Investments Inc Has $2.37 Million Stock Position in CSX Co. (NASDAQ:CSX)

Atria Investments Inc cut its stake in CSX Co. (NASDAQ:CSX) by 36.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,618 shares of the transportation company’s stock after selling 39,575 shares during the period. Atria Investments Inc’s holdings in CSX were worth $2,369,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Banque Cantonale Vaudoise increased its holdings in shares of CSX by 149.1% during the second quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock worth $575,000 after buying an additional 10,301 shares in the last quarter. Ascent Group LLC boosted its stake in CSX by 559.7% in the first quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock worth $2,179,000 after purchasing an additional 49,869 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in CSX by 20.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock worth $16,139,000 after purchasing an additional 80,423 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of CSX by 3.4% in the third quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company’s stock valued at $81,095,000 after buying an additional 77,488 shares in the last quarter. Finally, William B. Walkup & Associates Inc. bought a new position in shares of CSX in the second quarter valued at about $867,000. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX stock opened at $35.63 on Friday. The firm has a market capitalization of $68.71 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 2.29 and a beta of 1.19. CSX Co. has a 12-month low of $30.86 and a 12-month high of $40.12. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The firm has a fifty day moving average of $34.26 and a 200-day moving average of $33.87.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter last year, the company earned $0.42 earnings per share. The firm’s revenue was up 1.3% compared to the same quarter last year. On average, equities research analysts forecast that CSX Co. will post 1.84 earnings per share for the current year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is currently 25.81%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CSX. Stephens decreased their price objective on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Evercore ISI dropped their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. TD Cowen dropped their target price on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. lifted their price objective on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.78.

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.