CSX Co. (NASDAQ:CSX) Shares Sold by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC reduced its stake in CSX Co. (NASDAQ:CSX) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,178 shares of the transportation company’s stock after selling 531 shares during the period. Arete Wealth Advisors LLC’s holdings in CSX were worth $624,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CSX. Banque Cantonale Vaudoise lifted its stake in CSX by 149.1% during the second quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock valued at $575,000 after purchasing an additional 10,301 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of CSX by 20.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock valued at $16,139,000 after acquiring an additional 80,423 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of CSX by 0.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after acquiring an additional 24,430 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of CSX by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company’s stock worth $81,095,000 after acquiring an additional 77,488 shares during the last quarter. Finally, William B. Walkup & Associates Inc. acquired a new stake in CSX during the 2nd quarter worth about $867,000. 73.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CSX. Loop Capital reduced their price target on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Stephens decreased their target price on CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. TD Cowen dropped their price target on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Barclays boosted their price target on shares of CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Royal Bank of Canada reduced their price objective on CSX from $36.00 to $35.00 and set a “sector perform” 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 issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.78.

CSX Price Performance

NASDAQ:CSX opened at $33.68 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The company has a 50-day moving average of $34.81 and a 200-day moving average of $34.09. CSX Co. has a 52 week low of $31.74 and a 52 week high of $40.12. The company has a market capitalization of $64.95 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 2.19 and a beta of 1.20.

CSX (NASDAQ:CSX) last released its quarterly earnings data 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 company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same period in the previous year, the firm posted $0.42 earnings per share. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities research analysts anticipate that CSX Co. will post 1.84 earnings per share 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 paid a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. 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.