Folger Nolan Fleming Douglas Capital Management Inc. Has $788,000 Holdings in CSX Corporation $CSX

Folger Nolan Fleming Douglas Capital Management Inc. decreased its position in shares of CSX Corporation (NASDAQ:CSX) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,151 shares of the transportation company’s stock after selling 300 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in CSX were worth $788,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of CSX during the 1st quarter worth about $182,550,000. Bank of New York Mellon Corp increased its holdings in shares of CSX by 21.6% during the 1st quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company’s stock worth $835,336,000 after purchasing an additional 5,033,743 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of CSX by 1,283.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,190,452 shares of the transportation company’s stock worth $123,786,000 after purchasing an additional 3,887,644 shares during the period. Amundi increased its holdings in shares of CSX by 34.5% during the 1st quarter. Amundi now owns 13,017,397 shares of the transportation company’s stock worth $364,357,000 after purchasing an additional 3,341,136 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of CSX by 12.5% during the 1st quarter. Ameriprise Financial Inc. now owns 23,456,085 shares of the transportation company’s stock worth $690,359,000 after purchasing an additional 2,599,518 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Performance

NASDAQ CSX opened at $35.49 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. The stock has a market cap of $66.16 billion, a P/E ratio of 21.91, a PEG ratio of 2.81 and a beta of 1.29. CSX Corporation has a twelve month low of $26.22 and a twelve month high of $37.25. The company’s 50-day simple moving average is $34.29 and its 200 day simple moving average is $32.19.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. The firm had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 earnings per share. As a group, research analysts forecast that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, November 28th. CSX’s dividend payout ratio is currently 32.10%.

Analyst Ratings Changes

Several research analysts have recently issued reports on CSX shares. Citigroup boosted their price objective on shares of CSX from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Baird R W upgraded shares of CSX to a “strong-buy” rating in a report on Tuesday, July 1st. Robert W. Baird dropped their price objective on shares of CSX from $44.00 to $39.00 and set an “outperform” rating on the stock in a report on Friday, September 26th. Jefferies Financial Group restated a “buy” rating on shares of CSX in a report on Monday, September 29th. Finally, Raymond James Financial upped their target price on shares of CSX from $33.00 to $37.00 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.26.

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.