CSX Co. (NASDAQ:CSX) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC reduced its stake in CSX Co. (NASDAQ:CSX) by 4.5% in the 3rd quarter, Holdings Channel reports. The firm owned 52,411 shares of the transportation company’s stock after selling 2,496 shares during the quarter. Kingsview Wealth Management LLC’s holdings in CSX were worth $1,810,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CSX. Cerity Partners LLC raised its holdings in shares of CSX by 21.3% during the 3rd quarter. Cerity Partners LLC now owns 289,861 shares of the transportation company’s stock valued at $10,009,000 after buying an additional 50,913 shares during the period. Great Valley Advisor Group Inc. raised its stake in shares of CSX by 14.4% during the third quarter. Great Valley Advisor Group Inc. now owns 25,899 shares of the transportation company’s stock valued at $894,000 after purchasing an additional 3,252 shares during the period. Financial Council LLC acquired a new position in shares of CSX during the third quarter worth $369,000. Nwam LLC purchased a new position in shares of CSX in the third quarter valued at $580,000. Finally, Meridian Wealth Management LLC purchased a new stake in CSX during the 3rd quarter worth $387,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CSX shares. Stifel Nicolaus lowered their price objective on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Susquehanna cut their price objective on CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research note on Thursday, October 17th. Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of CSX in a research report on Wednesday, August 7th. BMO Capital Markets dropped their price target on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, Barclays raised their price objective on CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.78.

CSX Stock Performance

Shares of CSX stock opened at $36.62 on Tuesday. CSX Co. has a 12-month low of $31.65 and a 12-month high of $40.12. The firm has a market capitalization of $70.62 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19. The business has a 50 day simple moving average of $34.53 and a 200 day simple moving average of $33.96. 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 (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate 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 business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 EPS. On average, equities research analysts anticipate that CSX Co. will post 1.84 EPS for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.31%. CSX’s dividend payout ratio is presently 25.81%.

CSX 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.