Oppenheimer Asset Management Inc. Sells 2,856 Shares of CSX Co. (NASDAQ:CSX)

Oppenheimer Asset Management Inc. lessened its position in shares of CSX Co. (NASDAQ:CSX) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 226,949 shares of the transportation company’s stock after selling 2,856 shares during the period. Oppenheimer Asset Management Inc.’s holdings in CSX were worth $7,837,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Western Wealth Management LLC grew its holdings in shares of CSX by 0.8% during the second quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock worth $1,208,000 after buying an additional 295 shares in the last quarter. TriaGen Wealth Management LLC grew its position in CSX by 2.7% in the second quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock valued at $385,000 after purchasing an additional 300 shares in the last quarter. Lake Street Advisors Group LLC increased its stake in CSX by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock valued at $595,000 after buying an additional 306 shares during the last quarter. J.W. Cole Advisors Inc. lifted its position in CSX by 0.9% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock worth $1,222,000 after buying an additional 309 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. boosted its stake in shares of CSX by 33.7% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company’s stock worth $43,000 after buying an additional 316 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

CSX has been the topic of a number of recent research reports. Wells Fargo & Company lowered their target price 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. Benchmark reiterated a “buy” rating and set a $40.00 price objective on shares of CSX in a research note on Wednesday, August 7th. Evercore ISI decreased 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 dropped their price target on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Finally, Stifel Nicolaus decreased their price objective on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.78.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $35.63 on Friday. CSX Co. has a 12-month low of $30.86 and a 12-month high of $40.12. The company’s 50 day moving average price is $34.26 and its two-hundred day moving average price is $33.87. The firm has a market cap of $68.71 billion, a PE ratio of 19.16, a PEG ratio of 2.29 and a beta of 1.19. 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 (NASDAQ:CSX) last issued its quarterly 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 for 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 company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 EPS. Equities research analysts predict that CSX Co. will post 1.84 earnings per share for the current year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 25.81%.

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.