Armstrong Advisory Group Inc. Trims Position in CSX Co. (NASDAQ:CSX)

Armstrong Advisory Group Inc. reduced its position in CSX Co. (NASDAQ:CSX) by 6.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,369 shares of the transportation company’s stock after selling 727 shares during the quarter. Armstrong Advisory Group Inc.’s holdings in CSX were worth $358,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CSX. Chicago Partners Investment Group LLC increased its position in shares of CSX by 11.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 10,611 shares of the transportation company’s stock worth $365,000 after acquiring an additional 1,076 shares during the last quarter. Syon Capital LLC increased its holdings in CSX by 8.7% in the fourth quarter. Syon Capital LLC now owns 23,505 shares of the transportation company’s stock valued at $815,000 after buying an additional 1,875 shares during the last quarter. Tortoise Investment Management LLC bought a new stake in CSX in the fourth quarter valued at about $35,000. Richardson Financial Services Inc. bought a new stake in CSX in the fourth quarter valued at about $100,000. Finally, Willner & Heller LLC bought a new stake in CSX in the fourth quarter valued at about $266,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Price Performance

CSX stock opened at $34.96 on Monday. The business’s 50-day simple moving average is $33.93 and its 200 day simple moving average is $34.01. The stock has a market cap of $68.34 billion, a price-to-earnings ratio of 19.21, a P/E/G ratio of 1.90 and a beta of 1.19. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last issued its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The company’s revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 earnings per share. As a group, research analysts anticipate that CSX Co. will post 1.93 earnings per share for the current year.

CSX Announces Dividend

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 $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio is presently 26.37%.

Analysts Set New Price Targets

CSX has been the subject of several research analyst reports. Barclays lowered their price objective on CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. JPMorgan Chase & Co. lifted their target price on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Stephens restated an “overweight” rating and issued a $42.00 target price on shares of CSX in a research note on Tuesday, August 6th. Bank of America downgraded CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research note on Monday, July 8th. Finally, Susquehanna lifted their target price on CSX from $41.00 to $42.00 and gave the company a “positive” rating in a research note on Wednesday, October 2nd. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $39.19.

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.