CSX Co. (NASDAQ:CSX) Shares Sold by BLB&B Advisors LLC

BLB&B Advisors LLC cut its stake in shares of CSX Co. (NASDAQ:CSX) by 2.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,191 shares of the transportation company’s stock after selling 1,167 shares during the period. BLB&B Advisors LLC’s holdings in CSX were worth $1,664,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in CSX by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock worth $2,418,883,000 after purchasing an additional 443,755 shares in the last quarter. Bank of New York Mellon Corp raised its position in CSX by 6.6% during 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 buying an additional 1,060,204 shares during the period. Dimensional Fund Advisors LP lifted its stake in CSX by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock worth $415,466,000 after acquiring an additional 1,060,617 shares in the last quarter. Bank of Montreal Can boosted its position in CSX by 38.7% during the 2nd quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock worth $225,917,000 after acquiring an additional 1,884,998 shares during the period. Finally, Interval Partners LP grew its stake in CSX by 849.0% during the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock valued at $171,222,000 after acquiring an additional 4,579,344 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Loop Capital decreased their price target on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Royal Bank of Canada dropped their price target on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. TD Cowen lowered their target price on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. BMO Capital Markets cut their price target on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, Citigroup assumed coverage on CSX in a research note on Wednesday, October 9th. They issued a “buy” rating and a $42.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.61.

CSX Trading Up 0.6 %

Shares of NASDAQ:CSX opened at $33.85 on Wednesday. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. The company has a market cap of $66.17 billion, a P/E ratio of 18.60, a P/E/G ratio of 1.90 and a beta of 1.19. The stock’s 50-day moving average is $34.04 and its 200-day moving average is $33.90.

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 29.11% and a net margin of 24.52%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the prior year, the firm earned $0.42 earnings per share. The business’s quarterly revenue was up 1.3% on a year-over-year basis. Equities research analysts predict that CSX Co. will post 1.93 earnings per share for the current year.

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.42%. CSX’s dividend payout ratio (DPR) is 26.37%.

About CSX

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.