Rehmann Capital Advisory Group lessened its stake in shares of CSX Co. (NASDAQ:CSX) by 2.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 10,258 shares of the transportation company’s stock after selling 303 shares during the quarter. Rehmann Capital Advisory Group’s holdings in CSX were worth $760,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Morningstar Investment Services LLC purchased a new position in CSX during the 2nd quarter valued at about $204,000. Whitener Capital Management Inc. purchased a new position in CSX during the 3rd quarter valued at about $196,000. Millennium Management LLC grew its holdings in shares of CSX by 13.3% during the second quarter. Millennium Management LLC now owns 4,847,225 shares of the transportation company’s stock worth $309,156,000 after purchasing an additional 569,310 shares in the last quarter. Hartford Financial Management Inc. grew its holdings in shares of CSX by 56.0% during the second quarter. Hartford Financial Management Inc. now owns 109,736 shares of the transportation company’s stock worth $6,999,000 after purchasing an additional 39,409 shares in the last quarter. Finally, Suffolk Capital Management LLC purchased a new position in shares of CSX during the third quarter worth about $12,597,000. 75.16% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently commented on the company. Deutsche Bank boosted their price objective on CSX from $83.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, September 27th. Stifel Nicolaus set a $85.00 price objective on CSX and gave the stock a “buy” rating in a report on Wednesday, October 17th. BidaskClub raised CSX from a “hold” rating to a “buy” rating in a report on Saturday, October 6th. Citigroup boosted their price objective on CSX from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, October 1st. Finally, Bank of America boosted their price objective on CSX from $77.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, October 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $77.90.
NASDAQ:CSX opened at $68.03 on Friday. The company has a market capitalization of $58.96 billion, a P/E ratio of 29.58, a PEG ratio of 1.37 and a beta of 1.27. CSX Co. has a 1-year low of $48.43 and a 1-year high of $76.24. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 1.00.
CSX (NASDAQ:CSX) last released its earnings results on Tuesday, October 16th. The transportation company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.11. The company had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.05 billion. CSX had a return on equity of 21.38% and a net margin of 55.19%. CSX’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS. On average, equities analysts forecast that CSX Co. will post 3.81 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be given a $0.22 dividend. The ex-dividend date is Thursday, November 29th. This represents a $0.88 dividend on an annualized basis and a yield of 1.29%. CSX’s payout ratio is 38.26%.
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CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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