CSX Co. (NASDAQ:CSX) Shares Sold by US Bancorp DE

US Bancorp DE decreased its holdings in CSX Co. (NASDAQ:CSX) by 4.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 980,559 shares of the transportation company’s stock after selling 42,142 shares during the period. US Bancorp DE owned approximately 0.05% of CSX worth $33,859,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CSX. Norden Group LLC grew its holdings in shares of CSX by 137.9% in the first quarter. Norden Group LLC now owns 18,903 shares of the transportation company’s stock valued at $701,000 after purchasing an additional 10,956 shares during the period. Diversify Advisory Services LLC purchased a new stake in shares of CSX during the 1st quarter valued at approximately $1,088,000. Mission Wealth Management LP lifted its holdings in CSX by 4.9% in the first quarter. Mission Wealth Management LP now owns 28,752 shares of the transportation company’s stock valued at $1,066,000 after acquiring an additional 1,338 shares during the last quarter. Palisade Asset Management LLC purchased a new position in CSX in the first quarter worth approximately $136,000. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in CSX by 8.4% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 45,993 shares of the transportation company’s stock worth $1,705,000 after acquiring an additional 3,567 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CSX shares. Wells Fargo & Company decreased their price target on CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 17th. BMO Capital Markets dropped their price target on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Citigroup initiated coverage on shares of CSX in a report on Wednesday, October 9th. They issued a “buy” rating and a $42.00 price objective on the stock. Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Finally, TD Cowen decreased their target price on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Seven 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $38.61.

CSX Price Performance

Shares of NASDAQ CSX opened at $33.39 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a market cap of $64.39 billion, a P/E ratio of 17.95, a P/E/G ratio of 2.11 and a beta of 1.19. The stock has a 50 day moving average of $34.01 and a two-hundred day moving average of $33.80. CSX Co. has a twelve month low of $29.64 and a twelve month high of $40.12.

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). The business 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 firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 EPS. On average, research analysts forecast that CSX Co. will post 1.86 earnings per share for the current year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 yield of 1.44%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio 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.