Brookstone Capital Management decreased its stake in shares of CSX Co. (NASDAQ:CSX) by 20.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,981 shares of the transportation company’s stock after selling 1,020 shares during the quarter. Brookstone Capital Management’s holdings in CSX were worth $276,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Krane Funds Advisors LLC acquired a new position in shares of CSX during the 2nd quarter worth about $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in shares of CSX by 88.5% during the 3rd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 426 shares of the transportation company’s stock worth $29,000 after acquiring an additional 200 shares in the last quarter. SRS Capital Advisors Inc. acquired a new position in shares of CSX during the 2nd quarter worth about $32,000. Kavar Capital Partners LLC acquired a new position in shares of CSX during the 2nd quarter worth about $35,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of CSX during the 2nd quarter worth about $36,000. Institutional investors own 75.62% of the company’s stock.
CSX has been the subject of several analyst reports. ValuEngine cut CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Argus set a $82.00 price objective on CSX and gave the stock a “buy” rating in a research report on Friday. BidaskClub raised CSX from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. Morgan Stanley lowered their price objective on CSX from $56.00 to $55.00 and set an “underweight” rating for the company in a research report on Monday, October 7th. Finally, Cascend Securities cut CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $78.21.
Shares of NASDAQ CSX opened at $70.76 on Tuesday. The stock has a market cap of $55.70 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.30 and a beta of 1.24. The company has a quick ratio of 1.44, a current ratio of 1.41 and a debt-to-equity ratio of 1.35. CSX Co. has a 52-week low of $58.47 and a 52-week high of $80.73. The business has a 50-day moving average price of $68.71 and a 200 day moving average price of $72.94.
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, beating analysts’ consensus estimates of $1.02 by $0.06. The firm had revenue of $2.98 billion during 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 was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.05 EPS. Sell-side analysts anticipate that CSX Co. will post 4.17 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.36%. CSX’s dividend payout ratio (DPR) is presently 25.00%.
In related news, Director Ridge Lp Mantle sold 3,453,894 shares of the company’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $67.91, for a total value of $234,553,941.54. Following the completion of the sale, the director now directly owns 8,263 shares of the company’s stock, valued at approximately $561,140.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.83% of the stock is owned by corporate insiders.
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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