Pitcairn Co. Sells 561 Shares of CSX Co. (NASDAQ:CSX)

Pitcairn Co. lessened its holdings in shares of CSX Co. (NASDAQ:CSX) by 1.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 37,885 shares of the transportation company’s stock after selling 561 shares during the period. Pitcairn Co.’s holdings in CSX were worth $1,308,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its holdings in CSX by 6.6% in the second 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 during the last quarter. Dimensional Fund Advisors LP boosted its holdings in CSX by 9.3% in the second quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock valued at $415,466,000 after acquiring an additional 1,060,617 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in CSX by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,592,143 shares of the transportation company’s stock valued at $400,277,000 after acquiring an additional 51,597 shares during the last quarter. Bank of Montreal Can boosted its holdings in CSX by 38.7% in the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock valued at $225,917,000 after acquiring an additional 1,884,998 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in CSX by 2.3% in the third quarter. PNC Financial Services Group Inc. now owns 6,521,214 shares of the transportation company’s stock valued at $225,178,000 after acquiring an additional 146,973 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Benchmark reiterated a “buy” rating and issued a $40.00 price target on shares of CSX in a report on Wednesday, August 7th. Susquehanna decreased their price target on CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Thursday, October 17th. Evercore ISI reduced their target price on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Loop Capital reduced their target price on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Finally, Wells Fargo & Company reduced their target price on CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.78.

CSX Stock Up 1.2 %

Shares of CSX stock opened at $35.78 on Friday. The business’s 50 day simple moving average is $34.48 and its 200 day simple moving average is $33.94. CSX Co. has a 52-week low of $31.65 and a 52-week high of $40.12. The firm has a market cap of $69.00 billion, a PE ratio of 19.24, a P/E/G ratio of 2.24 and a beta of 1.19. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39.

CSX (NASDAQ:CSX) last announced 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). CSX had a net margin of 24.77% and a return on equity of 28.92%. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period in the prior year, the business posted $0.42 EPS. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, analysts predict that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently announced 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. This represents a $0.48 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio is presently 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.