Jacobs & Co. CA cut its holdings in shares of CSX Co. (NASDAQ:CSX) by 0.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 136,998 shares of the transportation company’s stock after selling 698 shares during the quarter. CSX makes up approximately 1.5% of Jacobs & Co. CA’s portfolio, making the stock its 21st largest holding. Jacobs & Co. CA’s holdings in CSX were worth $9,489,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CSX. Community Bank & Trust Waco Texas increased its position in shares of CSX by 1.1% in the second quarter. Community Bank & Trust Waco Texas now owns 12,314 shares of the transportation company’s stock worth $953,000 after purchasing an additional 132 shares during the last quarter. Contravisory Investment Management Inc. increased its position in shares of CSX by 20.9% in the second quarter. Contravisory Investment Management Inc. now owns 868 shares of the transportation company’s stock worth $67,000 after purchasing an additional 150 shares during the last quarter. We Are One Seven LLC increased its position in shares of CSX by 4.4% in the second quarter. We Are One Seven LLC now owns 3,533 shares of the transportation company’s stock worth $273,000 after purchasing an additional 150 shares during the last quarter. Fulton Bank N.A. increased its position in shares of CSX by 5.1% in the second quarter. Fulton Bank N.A. now owns 3,305 shares of the transportation company’s stock worth $256,000 after purchasing an additional 161 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. increased its position in shares of CSX by 4.0% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,206 shares of the transportation company’s stock worth $325,000 after purchasing an additional 162 shares during the last quarter. 77.80% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Steven T. Halverson sold 39,812 shares of CSX stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $71.65, for a total transaction of $2,852,529.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ridge Lp Mantle sold 3,453,894 shares of CSX stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $67.91, for a total value of $234,553,941.54. Following the transaction, the director now directly owns 8,263 shares in the company, valued at $561,140.33. The disclosure for this sale can be found here. Company insiders own 4.83% of the company’s stock.
CSX stock traded down $0.05 on Friday, reaching $74.03. The company’s stock had a trading volume of 2,258,800 shares, compared to its average volume of 4,946,240. The firm has a market cap of $57.80 billion, a PE ratio of 19.28, a PEG ratio of 1.38 and a beta of 1.22. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.33 and a current ratio of 1.41. The business has a fifty day simple moving average of $69.73 and a two-hundred day simple moving average of $72.58. CSX Co. has a 12-month low of $58.47 and a 12-month high of $80.73.
CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, October 16th. The transportation company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.06. The business had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.98 billion. CSX had a return on equity of 27.67% and a net margin of 27.91%. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period last year, the firm posted $1.05 earnings per share. As a group, research analysts anticipate that CSX Co. will post 4.18 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.24 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.96 annualized dividend and a yield of 1.30%. CSX’s payout ratio is 25.00%.
Several research firms recently weighed in on CSX. Stephens cut shares of CSX from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $86.00 to $79.00 in a research report on Wednesday, July 17th. Cascend Securities cut shares of CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Royal Bank of Canada dropped their price objective on CSX to $75.00 and set a “sector perform” rating for the company in a research note on Wednesday, July 17th. Cowen increased their price objective on CSX from $77.00 to $78.00 and gave the company a “market perform” rating in a research note on Thursday, October 17th. Finally, BidaskClub raised CSX from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $77.98.
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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