Quest Partners LLC Reduces Stock Position in CSX Co. (NASDAQ:CSX)

Quest Partners LLC reduced its holdings in shares of CSX Co. (NASDAQ:CSX) by 46.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,464 shares of the transportation company’s stock after selling 36,496 shares during the quarter. Quest Partners LLC’s holdings in CSX were worth $1,432,000 as of its most recent SEC filing.

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

CSX Price Performance

NASDAQ CSX opened at $34.60 on Wednesday. The firm has a market capitalization of $66.72 billion, a PE ratio of 18.60, a P/E/G ratio of 2.23 and a beta of 1.19. 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 Co. has a 12 month low of $31.44 and a 12 month high of $40.12. The company’s 50 day simple moving average is $34.37 and its 200 day simple moving average is $33.92.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 EPS. As a group, equities research analysts forecast that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is 25.81%.

Analyst Ratings Changes

A number of brokerages have weighed in on CSX. Citigroup increased their target price on shares of CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Barclays raised their target price on shares of CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. upped their target price on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. BMO Capital Markets cut their price target on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, Stifel Nicolaus reduced their price objective on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.78.

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.