CSX Co. (NASDAQ:CSX) Shares Sold by Conning Inc.

Conning Inc. lowered its stake in CSX Co. (NASDAQ:CSX) by 1.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,760 shares of the transportation company’s stock after selling 311 shares during the period. Conning Inc.’s holdings in CSX were worth $579,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Western Wealth Management LLC lifted its position in shares of CSX by 0.8% in the 2nd quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock valued at $1,208,000 after acquiring an additional 295 shares in the last quarter. TriaGen Wealth Management LLC lifted its holdings in shares of CSX by 2.7% in the second quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock valued at $385,000 after purchasing an additional 300 shares in the last quarter. Team Hewins LLC boosted its position in shares of CSX by 1.7% in the first quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock worth $696,000 after buying an additional 306 shares during the period. Lake Street Advisors Group LLC boosted its position in shares of CSX by 1.8% in the third quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock worth $595,000 after buying an additional 306 shares during the period. Finally, J.W. Cole Advisors Inc. raised its position in CSX by 0.9% during the third quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock valued at $1,222,000 after buying an additional 309 shares during the period. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of CSX opened at $33.39 on Monday. The company has a market capitalization of $64.39 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. CSX Co. has a one year low of $29.64 and a one year high of $40.12. The company’s fifty day moving average price is $34.01 and its 200 day moving average price is $33.79.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, analysts expect that CSX Co. will post 1.86 earnings per share for the current year.

CSX Dividend Announcement

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 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 dividend yield of 1.44%. CSX’s payout ratio is 25.81%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Barclays lowered their price objective on shares of CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Stephens cut their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. TD Cowen lowered their price target on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Finally, Benchmark reiterated a “buy” rating and set a $40.00 price objective on shares of CSX in a report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and a consensus target price of $38.61.

CSX 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.