Moors & Cabot Inc. Sells 1,540 Shares of CSX Co. (NASDAQ:CSX)

Moors & Cabot Inc. lessened its stake in CSX Co. (NASDAQ:CSX) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,643 shares of the transportation company’s stock after selling 1,540 shares during the period. Moors & Cabot Inc.’s holdings in CSX were worth $2,543,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new position in CSX during the 2nd quarter valued at about $26,000. Valley Wealth Managers Inc. grew its holdings in shares of CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after acquiring an additional 480 shares during the period. MFA Wealth Advisors LLC purchased a new position in shares of CSX during the 2nd quarter worth approximately $27,000. Morton Brown Family Wealth LLC purchased a new position in shares of CSX during the 3rd quarter worth approximately $31,000. Finally, Fairscale Capital LLC purchased a new position in shares of CSX during the 2nd quarter worth approximately $32,000. Institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

CSX has been the topic of a number of research analyst reports. BMO Capital Markets reduced their target price on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Stephens reduced their target price on CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Barclays upped their target price on CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Royal Bank of Canada cut their price target on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. Finally, Susquehanna cut their price target on CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.78.

CSX Price Performance

NASDAQ CSX opened at $34.57 on Thursday. The business’s fifty day moving average price is $34.39 and its 200-day moving average price is $33.92. The stock has a market capitalization of $66.67 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 2.23 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. CSX Co. has a 1-year low of $31.65 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last released 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). CSX had a net margin of 24.77% and a return on equity of 28.92%. The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the previous year, the company earned $0.42 earnings per share. CSX’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities analysts predict that CSX Co. will post 1.84 earnings per share for the current year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 dividend on an annualized basis and a yield of 1.39%. CSX’s dividend payout ratio is currently 25.81%.

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.