Oppenheimer & Co. Inc. Sells 3,887 Shares of CSX Co. (NASDAQ:CSX)

Oppenheimer & Co. Inc. reduced its position in CSX Co. (NASDAQ:CSX) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 192,434 shares of the transportation company’s stock after selling 3,887 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in CSX were worth $6,645,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CSX. Interval Partners LP raised its holdings in shares of CSX by 849.0% in the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after buying an additional 4,579,344 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in CSX in the second quarter valued at $116,430,000. M&G Plc acquired a new position in CSX during the first quarter worth $126,089,000. Assenagon Asset Management S.A. lifted its holdings in shares of CSX by 318.5% during the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock valued at $112,946,000 after acquiring an additional 2,489,329 shares during the period. Finally, Wulff Hansen & CO. lifted its holdings in shares of CSX by 3,243.0% during the second quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after acquiring an additional 2,126,668 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX stock opened at $35.63 on Friday. 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 Co. has a 12 month low of $30.86 and a 12 month high of $40.12. The firm has a market cap of $68.71 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 2.29 and a beta of 1.19. The stock has a 50-day moving average price of $34.26 and a 200 day moving average price of $33.87.

CSX (NASDAQ:CSX) last issued its quarterly 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). CSX had a return on equity of 28.92% and a net margin of 24.77%. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. Research analysts expect that CSX Co. will post 1.84 EPS for the current year.

CSX Dividend Announcement

The business also recently declared 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio (DPR) is currently 25.81%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CSX. Wells Fargo & Company lowered their target price on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Evercore ISI dropped their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Susquehanna reduced their target price on CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Thursday, October 17th. JPMorgan Chase & Co. raised their price target on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Finally, Stifel Nicolaus cut their price objective on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus price target of $38.78.

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.