CSX Co. (NASDAQ:CSX) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. cut its holdings in CSX Co. (NASDAQ:CSX) by 11.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,813 shares of the transportation company’s stock after selling 7,605 shares during the period. Raymond James Trust N.A.’s holdings in CSX were worth $2,100,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CSX. Valley Wealth Managers Inc. raised its holdings in shares of CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after acquiring an additional 480 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in CSX during the 2nd quarter worth about $26,000. MFA Wealth Advisors LLC acquired a new position in CSX in the 2nd quarter valued at about $27,000. Fairscale Capital LLC purchased a new position in CSX in the 2nd quarter valued at about $32,000. Finally, Morton Brown Family Wealth LLC acquired a new stake in shares of CSX during the 3rd quarter worth about $31,000. 73.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CSX has been the subject of a number of analyst reports. 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 report on Tuesday, November 12th. Benchmark reissued a “buy” rating and set a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. TD Cowen lowered their price objective on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Barclays upped their target price on CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company decreased their price target on CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.78.

CSX Stock Up 1.2 %

Shares of NASDAQ CSX opened at $35.78 on Friday. The stock has a fifty day moving average price of $34.48 and a 200 day moving average price of $33.94. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a 12-month low of $31.65 and a 12-month high of $40.12. The company has a market cap of $69.00 billion, a P/E ratio of 19.24, a P/E/G ratio of 2.24 and a beta of 1.19.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $3.62 billion for 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%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 earnings per share. Research analysts anticipate that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently announced 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 1.34%. CSX’s 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.