Davis R M Inc. Cuts Stock Position in CSX Co. (NASDAQ:CSX)

Davis R M Inc. reduced its stake in shares of CSX Co. (NASDAQ:CSX) by 3.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,907 shares of the transportation company’s stock after selling 523 shares during the period. Davis R M Inc.’s holdings in CSX were worth $480,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CSX. Advisors Asset Management Inc. lifted its holdings in CSX by 581.7% during the first quarter. Advisors Asset Management Inc. now owns 5,283 shares of the transportation company’s stock valued at $196,000 after purchasing an additional 4,508 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in CSX by 4.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 129,869 shares of the transportation company’s stock worth $4,814,000 after purchasing an additional 5,123 shares in the last quarter. Meiji Yasuda Life Insurance Co boosted its stake in CSX by 25.0% during the first quarter. Meiji Yasuda Life Insurance Co now owns 35,214 shares of the transportation company’s stock valued at $1,305,000 after buying an additional 7,048 shares during the period. Redwood Investment Management LLC bought a new stake in CSX during the first quarter valued at $1,571,000. Finally, Tidal Investments LLC grew its holdings in shares of CSX by 3.7% during the first quarter. Tidal Investments LLC now owns 131,410 shares of the transportation company’s stock worth $4,869,000 after purchasing an additional 4,669 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Trading Up 2.3 %

Shares of NASDAQ CSX opened at $36.62 on Tuesday. The stock has a market capitalization of $70.62 billion, a P/E ratio of 19.69, a PEG ratio of 2.27 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. The business’s 50 day moving average is $34.53 and its two-hundred day moving average is $33.96. CSX Co. has a 1-year low of $31.65 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share 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 firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same period last year, the company earned $0.42 earnings per share. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, research analysts expect that CSX Co. will post 1.84 EPS for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.31%. CSX’s dividend payout ratio (DPR) is 25.81%.

Analyst Ratings Changes

CSX has been the subject of several research reports. 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. Citigroup boosted their target price on CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Royal Bank of Canada cut their target price on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Thursday, October 17th. Susquehanna reduced 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. Finally, TD Cowen decreased their price objective on shares of CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus 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.