Coastline Trust Co Sells 17,500 Shares of CSX Co. (NASDAQ:CSX)

Coastline Trust Co lowered its holdings in CSX Co. (NASDAQ:CSX) by 52.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,671 shares of the transportation company’s stock after selling 17,500 shares during the quarter. Coastline Trust Co’s holdings in CSX were worth $541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CSX. Valley Wealth Managers Inc. grew its position in CSX by 177.8% in the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after purchasing an additional 480 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of CSX in the second quarter worth $26,000. MFA Wealth Advisors LLC purchased a new stake in CSX during the second quarter valued at $27,000. Fairscale Capital LLC bought a new position in CSX in the second quarter valued at about $32,000. Finally, Morton Brown Family Wealth LLC purchased a new position in CSX in the third quarter worth about $31,000. 73.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Benchmark reaffirmed a “buy” rating and set a $40.00 price target on shares of CSX in a research report on Wednesday, August 7th. TD Cowen reduced their target price 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. Stephens dropped their price target on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Evercore ISI lowered their target price on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. upped their price target on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $38.78.

CSX Trading Down 1.4 %

Shares of CSX stock opened at $35.13 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. The firm has a market cap of $67.75 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 2.32 and a beta of 1.19. CSX Co. has a twelve month low of $30.86 and a twelve month high of $40.12. The business has a 50-day moving average price of $34.32 and a 200-day moving average price of $33.90.

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

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is 25.81%.

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.