Bank of Hawaii Sells 1,755 Shares of CSX Co. (NASDAQ:CSX)

Bank of Hawaii lessened its holdings in shares of CSX Co. (NASDAQ:CSX) by 16.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 8,655 shares of the transportation company’s stock after selling 1,755 shares during the period. Bank of Hawaii’s holdings in CSX were worth $299,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. raised its stake in CSX by 581.7% during the first quarter. Advisors Asset Management Inc. now owns 5,283 shares of the transportation company’s stock valued at $196,000 after buying an additional 4,508 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of CSX by 4.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 129,869 shares of the transportation company’s stock worth $4,814,000 after purchasing an additional 5,123 shares during the last quarter. Meiji Yasuda Life Insurance Co boosted its stake in CSX by 25.0% in the 1st quarter. Meiji Yasuda Life Insurance Co now owns 35,214 shares of the transportation company’s stock worth $1,305,000 after purchasing an additional 7,048 shares in the last quarter. Redwood Investment Management LLC bought a new stake in CSX during the 1st quarter valued at about $1,571,000. Finally, Tidal Investments LLC lifted its position in CSX by 3.7% in the 1st quarter. Tidal Investments LLC now owns 131,410 shares of the transportation company’s stock valued at $4,869,000 after acquiring an additional 4,669 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Up 2.3 %

CSX stock opened at $36.62 on Tuesday. The business’s 50-day moving average price is $34.53 and its 200-day moving average price is $33.96. The stock has a market cap of $70.62 billion, a P/E ratio of 19.69, a PEG ratio of 2.27 and a beta of 1.19. CSX Co. has a twelve month low of $31.65 and a twelve month 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.

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 the consensus estimate of $0.48 by ($0.02). The firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. CSX’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 EPS. On average, equities research analysts forecast that CSX Co. will post 1.84 EPS for the current year.

CSX Dividend Announcement

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 paid a $0.12 dividend. 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 payout ratio is presently 25.81%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CSX shares. Susquehanna reduced 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. Royal Bank of Canada cut their target price on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. TD Cowen decreased their target price on shares of CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Benchmark restated a “buy” rating and issued a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. Finally, Stephens cut their price objective on CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and an average target price of $38.78.

CSX Company 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.