Acute Investment Advisory LLC Sells 2,956 Shares of CSX Co. (NASDAQ:CSX)

Acute Investment Advisory LLC lowered its position in CSX Co. (NASDAQ:CSX) by 26.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,381 shares of the transportation company’s stock after selling 2,956 shares during the period. CSX accounts for 0.2% of Acute Investment Advisory LLC’s portfolio, making the stock its 14th largest holding. Acute Investment Advisory LLC’s holdings in CSX were worth $289,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CSX. Norden Group LLC raised its stake in shares of CSX by 137.9% in the first quarter. Norden Group LLC now owns 18,903 shares of the transportation company’s stock valued at $701,000 after acquiring an additional 10,956 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of CSX by 8.4% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 45,993 shares of the transportation company’s stock valued at $1,705,000 after purchasing an additional 3,567 shares in the last quarter. Fidelis Capital Partners LLC increased its holdings in shares of CSX by 52.6% in the first quarter. Fidelis Capital Partners LLC now owns 22,253 shares of the transportation company’s stock valued at $825,000 after purchasing an additional 7,668 shares in the last quarter. Graypoint LLC increased its holdings in shares of CSX by 5.1% in the first quarter. Graypoint LLC now owns 11,570 shares of the transportation company’s stock valued at $429,000 after purchasing an additional 560 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of CSX by 15.3% in the first quarter. Daiwa Securities Group Inc. now owns 371,114 shares of the transportation company’s stock valued at $13,757,000 after purchasing an additional 49,202 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CSX shares. Barclays lowered their price target on shares of CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. BMO Capital Markets lowered their price target on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Royal Bank of Canada lowered their target price on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. JPMorgan Chase & Co. lifted their target price on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Finally, Loop Capital lowered their target price on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.61.

CSX Trading Down 0.7 %

Shares of NASDAQ CSX opened at $33.39 on Friday. The company’s fifty day moving average is $34.01 and its 200-day moving average is $33.79. The stock has a market cap of $64.39 billion, a price-to-earnings ratio of 17.95, a P/E/G ratio of 2.12 and a beta of 1.19. CSX Co. has a twelve month low of $29.64 and a twelve 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.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 earnings per share. Equities research analysts predict that CSX Co. will post 1.86 EPS for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.44%. CSX’s dividend payout ratio is currently 25.81%.

CSX Company Profile

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.