CSX Co. (NASDAQ:CSX) Shares Sold by New England Research & Management Inc.

New England Research & Management Inc. reduced its stake in CSX Co. (NASDAQ:CSX) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 110,706 shares of the transportation company’s stock after selling 1,675 shares during the period. CSX makes up approximately 1.8% of New England Research & Management Inc.’s portfolio, making the stock its 9th biggest position. New England Research & Management Inc.’s holdings in CSX were worth $3,823,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of the stock. Envestnet Asset Management Inc. boosted its holdings in CSX by 1.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 2,503,238 shares of the transportation company’s stock valued at $86,787,000 after acquiring an additional 42,941 shares during the period. Morningstar Investment Services LLC purchased a new stake in CSX during the 4th quarter worth approximately $347,000. Schroder Investment Management Group lifted its holdings in CSX by 18.9% during the 4th quarter. Schroder Investment Management Group now owns 803,982 shares of the transportation company’s stock worth $27,874,000 after buying an additional 128,032 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new position in CSX in the 4th quarter valued at approximately $57,000. Finally, Evercore Wealth Management LLC grew its stake in shares of CSX by 8.2% in the fourth quarter. Evercore Wealth Management LLC now owns 15,662 shares of the transportation company’s stock worth $543,000 after acquiring an additional 1,191 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Trading Down 2.4 %

Shares of CSX stock traded down $0.84 during mid-day trading on Monday, hitting $33.65. 10,760,796 shares of the stock were exchanged, compared to its average volume of 11,542,520. The company has a 50-day simple moving average of $33.97 and a 200 day simple moving average of $34.10. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $65.78 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 1.91 and a beta of 1.19. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. CSX had a return on equity of 29.11% and a net margin of 24.52%. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the previous year, the firm posted $0.49 EPS. CSX’s revenue was up .0% on a year-over-year basis. Research analysts forecast that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%. CSX’s payout ratio is 26.37%.

Analyst Ratings Changes

A number of research analysts recently issued reports on CSX shares. JPMorgan Chase & Co. lifted 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. Benchmark restated a “buy” rating and set a $40.00 target price on shares of CSX in a research note on Wednesday, August 7th. Evercore ISI upgraded shares of CSX to a “strong-buy” rating in a report on Tuesday, August 6th. Stephens restated an “overweight” rating and issued a $42.00 price target on shares of CSX in a research note on Tuesday, August 6th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $40.00 price target on shares of CSX in a report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

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.