DRW Securities LLC Sells 53,717 Shares of CSX Co. (NASDAQ:CSX)

DRW Securities LLC lessened its position in shares of CSX Co. (NASDAQ:CSX) by 68.6% during the third quarter, HoldingsChannel.com reports. The fund owned 24,535 shares of the transportation company’s stock after selling 53,717 shares during the period. DRW Securities LLC’s holdings in CSX were worth $847,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in CSX during the 2nd quarter worth approximately $26,000. Valley Wealth Managers Inc. increased its holdings in CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after acquiring an additional 480 shares during the period. MFA Wealth Advisors LLC bought a new stake in CSX during the 2nd quarter worth approximately $27,000. Morton Brown Family Wealth LLC bought a new stake in CSX during the 3rd quarter worth approximately $31,000. Finally, Fairscale Capital LLC purchased a new position in CSX in the 2nd quarter worth approximately $32,000. Institutional investors own 73.57% of the company’s stock.

CSX Trading Up 2.3 %

NASDAQ:CSX opened at $36.62 on Tuesday. The company has a fifty day moving average of $34.53 and a 200 day moving average of $33.96. CSX Co. has a 52 week low of $31.65 and a 52 week high of $40.12. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $70.62 billion, a P/E ratio of 19.69, a P/E/G ratio of 2.27 and a beta of 1.19.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS 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 firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the prior year, the company earned $0.42 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, research analysts predict that CSX Co. will post 1.84 earnings per share for the current year.

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued 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 yield of 1.31%. CSX’s dividend payout ratio is currently 25.81%.

Analysts Set New Price Targets

A number of research firms have commented on CSX. Benchmark reissued a “buy” rating and issued a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. Stephens cut their price target on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. BMO Capital Markets cut their price target on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Susquehanna cut their price target on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Thursday, October 17th. Finally, Loop Capital cut their price target on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.78.

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.