Beese Fulmer Investment Management Inc. Sells 347 Shares of CSX Co. (NASDAQ:CSX)

Beese Fulmer Investment Management Inc. cut its position in CSX Co. (NASDAQ:CSX) by 0.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,986 shares of the transportation company’s stock after selling 347 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in CSX were worth $2,037,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CSX. Patrick M Sweeney & Associates Inc. boosted its stake in CSX by 5.6% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 31,514 shares of the transportation company’s stock valued at $1,088,000 after buying an additional 1,684 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of CSX in the 3rd quarter valued at approximately $5,767,000. Commerzbank Aktiengesellschaft FI boosted its stake in shares of CSX by 45.1% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 60,637 shares of the transportation company’s stock valued at $2,094,000 after purchasing an additional 18,849 shares in the last quarter. Community Trust & Investment Co. grew its holdings in shares of CSX by 7.7% during the 3rd quarter. Community Trust & Investment Co. now owns 29,454 shares of the transportation company’s stock valued at $1,017,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Leo Wealth LLC increased its position in CSX by 17.2% during the 3rd quarter. Leo Wealth LLC now owns 24,998 shares of the transportation company’s stock worth $863,000 after purchasing an additional 3,665 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

CSX stock opened at $33.59 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The firm has a market cap of $65.67 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 1.90 and a beta of 1.19. The company’s fifty day simple moving average is $34.04 and its 200 day simple moving average is $33.90. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings data 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 business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The firm’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 firm earned $0.42 earnings per share. On average, analysts expect that CSX Co. will post 1.93 earnings per share for the current year.

CSX Announces Dividend

The business also recently disclosed 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. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is 26.37%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Evercore ISI decreased their target price on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research report on Monday, July 8th. BMO Capital Markets dropped their target price on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Royal Bank of Canada reduced their price target on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Thursday, October 17th. Finally, Stephens lowered their price objective on CSX from $41.00 to $39.00 and set an “overweight” rating for the company 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.61.

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.