Ferguson Wellman Capital Management Inc. Sells 23,252 Shares of CSX Co. (NASDAQ:CSX)

Ferguson Wellman Capital Management Inc. lowered its position in CSX Co. (NASDAQ:CSX) by 74.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,122 shares of the transportation company’s stock after selling 23,252 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in CSX were worth $280,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of CSX by 2.6% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 313,381 shares of the transportation company’s stock valued at $11,617,000 after purchasing an additional 7,802 shares in the last quarter. Kingsview Wealth Management LLC lifted its holdings in shares of CSX by 4.9% in the first quarter. Kingsview Wealth Management LLC now owns 50,619 shares of the transportation company’s stock valued at $1,876,000 after purchasing an additional 2,342 shares in the last quarter. HBK Sorce Advisory LLC lifted its holdings in shares of CSX by 19.9% in the first quarter. HBK Sorce Advisory LLC now owns 15,883 shares of the transportation company’s stock valued at $589,000 after purchasing an additional 2,638 shares in the last quarter. Blair William & Co. IL lifted its holdings in shares of CSX by 11.6% in the first quarter. Blair William & Co. IL now owns 164,120 shares of the transportation company’s stock valued at $6,084,000 after purchasing an additional 17,109 shares in the last quarter. Finally, Orion Portfolio Solutions LLC lifted its holdings in shares of CSX by 1.6% in the first quarter. Orion Portfolio Solutions LLC now owns 200,824 shares of the transportation company’s stock valued at $7,445,000 after purchasing an additional 3,087 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CSX. Barclays raised their target price on CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Wednesday. Wells Fargo & Company dropped their price target on CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Stephens dropped their price target on CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. JPMorgan Chase & Co. lifted their price target on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Finally, Benchmark reiterated a “buy” rating and set a $40.00 price target on shares of CSX in a report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.78.

CSX Stock Performance

NASDAQ:CSX opened at $35.63 on Friday. 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 has a fifty day simple moving average of $34.26 and a two-hundred day simple moving average of $33.87. CSX Co. has a 1 year low of $30.86 and a 1 year high of $40.12. The company has a market capitalization of $68.71 billion, a P/E ratio of 19.16, a P/E/G ratio of 2.32 and a beta of 1.19.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. CSX’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 earnings per share. On average, analysts expect that CSX Co. will post 1.84 earnings per share for the current year.

CSX Announces Dividend

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 given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 25.81%.

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.