CSX Co. (NASDAQ:CSX) Stake Cut by Community Bank of Raymore

Community Bank of Raymore decreased its position in CSX Co. (NASDAQ:CSX) by 28.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,120 shares of the transportation company’s stock after selling 21,000 shares during the quarter. CSX comprises 1.4% of Community Bank of Raymore’s investment portfolio, making the stock its 25th largest holding. Community Bank of Raymore’s holdings in CSX were worth $1,800,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its holdings in CSX by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock valued at $2,418,883,000 after purchasing an additional 443,755 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in CSX by 6.6% during 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 purchasing an additional 1,060,204 shares during the period. Dimensional Fund Advisors LP grew its holdings in CSX by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock valued at $415,466,000 after buying an additional 1,060,617 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of CSX by 38.7% during the second 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 during the last quarter. Finally, Interval Partners LP increased its position in CSX by 849.0% during the second 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. 73.57% of the stock is owned by institutional investors.

CSX Trading Down 0.1 %

Shares of NASDAQ CSX opened at $35.47 on Thursday. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The company has a 50-day moving average of $34.05 and a two-hundred day moving average of $33.99. The company has a market cap of $69.34 billion, a PE ratio of 19.49, a P/E/G ratio of 1.90 and a beta of 1.19. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last issued its quarterly 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 24.52% and a return on equity of 29.11%. The company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period in the prior year, the business earned $0.42 EPS. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities analysts expect that CSX Co. will post 1.93 earnings per share 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 dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CSX. Royal Bank of Canada dropped their price objective on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Thursday. Citigroup initiated coverage on CSX in a report on Wednesday, October 9th. They issued a “buy” rating and a $42.00 price target for the company. Susquehanna raised their price objective on CSX from $41.00 to $42.00 and gave the stock a “positive” rating in a research report on Wednesday, October 2nd. Benchmark restated a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Finally, Stephens restated an “overweight” rating and issued a $42.00 target price on shares of CSX in a research note on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and an average target price of $38.88.

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.