Graypoint LLC Lowers Position in CSX Co. (NASDAQ:CSX)

Graypoint LLC trimmed its stake in shares of CSX Co. (NASDAQ:CSX) by 3.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 12,000 shares of the transportation company’s stock after selling 448 shares during the period. Graypoint LLC’s holdings in CSX were worth $414,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of CSX. Western Wealth Management LLC increased its holdings in shares of CSX by 0.8% in the second quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock worth $1,208,000 after purchasing an additional 295 shares during the last quarter. TriaGen Wealth Management LLC increased its stake in CSX by 2.7% in the 2nd quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock worth $385,000 after acquiring an additional 300 shares during the last quarter. Lake Street Advisors Group LLC raised its holdings in shares of CSX by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock worth $595,000 after acquiring an additional 306 shares in the last quarter. J.W. Cole Advisors Inc. boosted its position in shares of CSX by 0.9% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock valued at $1,222,000 after acquiring an additional 309 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. grew its holdings in shares of CSX by 33.7% in the third quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 316 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

CSX Trading Up 1.2 %

Shares of CSX opened at $36.00 on Friday. The firm has a market capitalization of $69.42 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 2.12 and a beta of 1.19. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. CSX Co. has a 1-year low of $30.13 and a 1-year high of $40.12. The company has a 50-day moving average of $34.15 and a 200 day moving average of $33.82.

CSX (NASDAQ:CSX) last posted 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). CSX had a net margin of 24.77% and a return on equity of 28.92%. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the prior year, the firm posted $0.42 EPS. The business’s revenue was up 1.3% on a year-over-year basis. On average, research analysts expect that CSX Co. will post 1.84 EPS for the current year.

CSX Announces Dividend

The company also recently declared 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is 25.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Evercore ISI decreased their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Stephens decreased their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Benchmark reiterated a “buy” rating and issued a $40.00 price target on shares of CSX in a research report on Wednesday, August 7th. Citigroup initiated coverage on CSX in a research report on Wednesday, October 9th. They set a “buy” rating and a $42.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their target price on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and an average price target of $38.61.

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.