CSX Co. (NASDAQ:CSX) Shares Sold by Portfolio Design Labs LLC

Portfolio Design Labs LLC lowered its stake in CSX Co. (NASDAQ:CSX) by 40.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,860 shares of the transportation company’s stock after selling 24,895 shares during the period. Portfolio Design Labs LLC’s holdings in CSX were worth $1,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Acadian Asset Management LLC grew its stake in shares of CSX by 12.0% during the first quarter. Acadian Asset Management LLC now owns 42,999 shares of the transportation company’s stock worth $1,592,000 after purchasing an additional 4,606 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of CSX by 1.8% during the 1st quarter. Clearbridge Investments LLC now owns 66,026 shares of the transportation company’s stock worth $2,448,000 after acquiring an additional 1,170 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of CSX by 49.1% in the 1st quarter. Bessemer Group Inc. now owns 117,154 shares of the transportation company’s stock valued at $4,343,000 after acquiring an additional 38,560 shares during the last quarter. Lake Street Advisors Group LLC raised its position in shares of CSX by 7.0% during the 1st quarter. Lake Street Advisors Group LLC now owns 16,855 shares of the transportation company’s stock worth $625,000 after acquiring an additional 1,097 shares in the last quarter. Finally, Delap Wealth Advisory LLC purchased a new stake in CSX during the first quarter worth approximately $284,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CSX. JPMorgan Chase & Co. raised their price objective on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Benchmark reissued a “buy” rating and set a $40.00 price target on shares of CSX in a report on Wednesday, August 7th. TD Cowen dropped their price target on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Evercore ISI decreased their price target on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, Citigroup boosted their price objective on shares of CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.78.

CSX Trading Down 1.1 %

Shares of CSX stock opened at $34.60 on Wednesday. The stock has a market cap of $66.72 billion, a P/E ratio of 18.60, a P/E/G ratio of 2.23 and a beta of 1.19. CSX Co. has a fifty-two week low of $31.44 and a fifty-two week high of $40.12. The business has a fifty day simple moving average of $34.37 and a 200-day simple moving average of $33.92. 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 posted its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. CSX’s quarterly revenue 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. On average, analysts forecast that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.39%. CSX’s payout ratio is currently 25.81%.

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.