Trust Point Inc. Lowers Stock Position in CSX Co. (NASDAQ:CSX)

Trust Point Inc. decreased its position in CSX Co. (NASDAQ:CSX) by 21.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,378 shares of the transportation company’s stock after selling 3,754 shares during the period. Trust Point Inc.’s holdings in CSX were worth $462,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Banque Cantonale Vaudoise grew its position in shares of CSX by 149.1% during the 2nd quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock valued at $575,000 after acquiring an additional 10,301 shares during the period. Ascent Group LLC boosted its position in CSX by 559.7% during the first quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock worth $2,179,000 after purchasing an additional 49,869 shares in the last quarter. PFG Advisors grew its holdings in CSX by 2.1% in the first quarter. PFG Advisors now owns 18,880 shares of the transportation company’s stock valued at $700,000 after purchasing an additional 387 shares during the period. Sei Investments Co. grew its holdings in CSX by 4.2% in the first quarter. Sei Investments Co. now owns 597,426 shares of the transportation company’s stock valued at $22,146,000 after purchasing an additional 23,938 shares during the period. Finally, William B. Walkup & Associates Inc. purchased a new stake in shares of CSX in the second quarter valued at approximately $867,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday. BMO Capital Markets decreased their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday. Evercore ISI dropped their target price on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday. Stephens reduced their price target on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of CSX in a report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.61.

CSX Stock Performance

Shares of CSX stock opened at $34.12 on Friday. The business’s 50 day moving average price is $34.02 and its 200 day moving average price is $33.97. The company has a market cap of $66.70 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 1.90 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. CSX Co. has a one year low of $29.03 and a one year high of $40.12.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business earned $0.42 earnings per share. On average, research analysts predict that CSX Co. will post 1.93 EPS for the current year.

CSX Announces Dividend

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 issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.41%. CSX’s payout ratio is 26.37%.

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.