CSX Co. (NASDAQ:CSX) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its holdings in shares of CSX Co. (NASDAQ:CSX) by 3.3% in the third quarter, HoldingsChannel reports. The firm owned 2,718,243 shares of the transportation company’s stock after selling 93,357 shares during the period. Massachusetts Financial Services Co. MA’s holdings in CSX were worth $93,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in shares of CSX by 6.6% in the 2nd 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 holdings in CSX by 9.3% in the second quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock valued at $415,466,000 after acquiring an additional 1,060,617 shares during the period. Bank of Montreal Can boosted its position in CSX by 38.7% in the 2nd quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock worth $225,917,000 after purchasing an additional 1,884,998 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of CSX by 2.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,521,214 shares of the transportation company’s stock worth $225,178,000 after purchasing an additional 146,973 shares during the period. Finally, Interval Partners LP increased its holdings in shares of 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 purchasing an additional 4,579,344 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CSX. Citigroup increased their price target on shares of CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Susquehanna dropped their target price on CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research report on Thursday, October 17th. Wells Fargo & Company lowered their price target on CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Royal Bank of Canada cut their price objective on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Finally, BMO Capital Markets decreased their target price on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.78.

CSX Price Performance

NASDAQ:CSX opened at $35.78 on Friday. CSX Co. has a one year low of $31.65 and a one year high of $40.12. The stock has a market cap of $69.00 billion, a PE ratio of 19.24, a P/E/G ratio of 2.24 and a beta of 1.19. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The stock has a 50 day moving average price of $34.48 and a 200 day moving average price of $33.94.

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

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.34%. CSX’s dividend payout ratio (DPR) is 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.