Chevy Chase Trust Holdings LLC Has $37.79 Million Position in CSX Co. (NASDAQ:CSX)

Chevy Chase Trust Holdings LLC lessened its stake in shares of CSX Co. (NASDAQ:CSX) by 2.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,094,325 shares of the transportation company’s stock after selling 28,192 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.06% of CSX worth $37,787,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Banque Cantonale Vaudoise grew its holdings in CSX by 149.1% in the 2nd quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock valued at $575,000 after buying an additional 10,301 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of CSX by 20.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock valued at $16,139,000 after acquiring an additional 80,423 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of CSX by 0.7% in the third quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock valued at $116,521,000 after acquiring an additional 24,430 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of CSX by 3.4% in the third quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company’s stock valued at $81,095,000 after acquiring an additional 77,488 shares in the last quarter. Finally, William B. Walkup & Associates Inc. bought a new position in CSX during the second quarter worth about $867,000. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of NASDAQ:CSX opened at $36.34 on Tuesday. 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 one year low of $31.74 and a one year high of $40.12. The company has a market cap of $70.08 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.32 and a beta of 1.19. The firm has a 50 day simple moving average of $34.70 and a 200 day simple moving average of $34.03.

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 firm 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%. CSX’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 EPS. Research analysts predict that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.32%. CSX’s dividend payout ratio is presently 25.81%.

Analysts Set New Price Targets

CSX has been the topic of a number of analyst reports. BMO Capital Markets decreased their target price on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. TD Cowen reduced their price target on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Benchmark restated a “buy” rating and set a $40.00 price objective on shares of CSX in a research note on Wednesday, August 7th. Susquehanna cut their target price on CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research report on Thursday, October 17th. Finally, Loop Capital reduced their target price on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus target price of $38.78.

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.