Prana Capital Management LP Sells 4,570 Shares of CSX Co. (NASDAQ:CSX)

Prana Capital Management LP lessened its position in shares of CSX Co. (NASDAQ:CSX) by 2.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 201,899 shares of the transportation company’s stock after selling 4,570 shares during the quarter. Prana Capital Management LP’s holdings in CSX were worth $6,972,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Interval Partners LP lifted 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 worth $171,222,000 after acquiring an additional 4,579,344 shares during the period. Manning & Napier Advisors LLC bought a new position in CSX during the second quarter worth about $116,430,000. Assenagon Asset Management S.A. boosted its holdings in CSX by 318.5% during the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock valued at $112,946,000 after purchasing an additional 2,489,329 shares in the last quarter. Wulff Hansen & CO. grew its stake in shares of CSX by 3,243.0% in the 2nd quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after purchasing an additional 2,126,668 shares during the period. Finally, Bank of Montreal Can raised its holdings in shares of 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 buying an additional 1,884,998 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

CSX Price Performance

Shares of CSX opened at $36.00 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. CSX Co. has a twelve month low of $31.74 and a twelve month high of $40.12. The stock has a market capitalization of $69.42 billion, a P/E ratio of 19.35, a P/E/G ratio of 2.31 and a beta of 1.20. The company has a 50 day moving average of $34.79 and a 200-day moving average of $34.06.

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

CSX Dividend Announcement

The company 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. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.33%. CSX’s payout ratio is 25.81%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. BMO Capital Markets dropped their price objective on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Evercore ISI cut their target price on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Royal Bank of Canada decreased their price target on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Citigroup lifted their price objective on CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Loop Capital lowered their target price on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.