Folger Nolan Fleming Douglas Capital Management Inc. Has $829,000 Position in CSX Co. (NASDAQ:CSX)

Folger Nolan Fleming Douglas Capital Management Inc. lessened its stake in shares of CSX Co. (NASDAQ:CSX) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,001 shares of the transportation company’s stock after selling 550 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in CSX were worth $829,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. boosted its stake in shares of CSX by 13.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 48,775 shares of the transportation company’s stock valued at $1,808,000 after purchasing an additional 5,808 shares in the last quarter. New Century Financial Group LLC bought a new position in CSX during the first quarter worth about $226,000. Norden Group LLC increased 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 worth $701,000 after acquiring an additional 10,956 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in CSX by 64.7% in the first quarter. J.W. Cole Advisors Inc. now owns 36,303 shares of the transportation company’s stock valued at $1,343,000 after buying an additional 14,260 shares in the last quarter. Finally, Diversify Advisory Services LLC bought a new stake in shares of CSX in the first quarter valued at about $1,088,000. Institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

CSX has been the topic of a number of research analyst reports. Sanford C. Bernstein upped their target price on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Citigroup assumed coverage on shares of CSX in a report on Wednesday, October 9th. They issued a “buy” rating and a $42.00 target price for the company. Wells Fargo & Company dropped their target price on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. BMO Capital Markets reduced their target price on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, Susquehanna dropped their price target on CSX from $42.00 to $40.00 and set a “positive” 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 stock. According to MarketBeat, CSX has an average rating of “Moderate Buy” and an average price target of $38.61.

CSX Stock Performance

CSX stock opened at $33.54 on Thursday. CSX Co. has a twelve month low of $29.28 and a twelve month high of $40.12. The business’s fifty day simple moving average is $34.01 and its two-hundred day simple moving average is $33.81. The firm has a market cap of $65.57 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.90 and a beta of 1.19. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a net margin of 24.52% and a return on equity of 29.11%. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter last year, the firm earned $0.42 EPS. CSX’s revenue for the quarter was up 1.3% on a year-over-year basis. Analysts predict that CSX Co. will post 1.93 earnings per share for the current year.

CSX Announces Dividend

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 1.43%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio is presently 26.37%.

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.