Banque Cantonale Vaudoise Cuts Stock Position in CSX Co. (NASDAQ:CSX)

Banque Cantonale Vaudoise trimmed its stake in shares of CSX Co. (NASDAQ:CSX) by 66.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,776 shares of the transportation company’s stock after selling 11,432 shares during the period. Banque Cantonale Vaudoise’s holdings in CSX were worth $199,000 at the end of the most recent quarter.

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

CSX Stock Up 1.2 %

Shares of CSX opened at $35.78 on Friday. The company’s 50-day simple moving average is $34.48 and its 200-day simple moving average is $33.94. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. CSX Co. has a 1 year low of $31.65 and a 1 year high of $40.12. The stock has a market capitalization of $69.00 billion, a PE ratio of 19.24, a P/E/G ratio of 2.20 and a beta of 1.19.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same period in the previous year, the firm earned $0.42 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. Analysts forecast that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.34%. CSX’s dividend payout ratio is currently 25.81%.

Wall Street Analyst Weigh In

A number of analysts have commented on CSX shares. Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of CSX in a report on Wednesday, August 7th. Evercore ISI reduced their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. TD Cowen dropped their target price on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Stephens reduced their price target on CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Finally, BMO Capital Markets dropped their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.78.

About CSX

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.