CSX Co. (NASDAQ:CSX) Shares Acquired by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC increased its position in shares of CSX Co. (NASDAQ:CSX) by 3.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 22,611 shares of the transportation company’s stock after buying an additional 649 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in CSX were worth $781,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in shares of CSX in the 2nd quarter valued at approximately $26,000. MFA Wealth Advisors LLC purchased a new stake in shares of CSX in the second quarter valued at about $27,000. Fairscale Capital LLC acquired a new position in shares of CSX during the second quarter worth about $32,000. TFC Financial Management Inc. raised its holdings in CSX by 72.4% during the second quarter. TFC Financial Management Inc. now owns 1,048 shares of the transportation company’s stock worth $35,000 after purchasing an additional 440 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. boosted its holdings in CSX by 33.7% in the 3rd 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. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

CSX stock opened at $33.27 on Monday. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The stock has a 50 day moving average of $34.03 and a 200-day moving average of $33.85. The stock has a market cap of $65.04 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings data 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 return on equity of 29.11% and a net margin of 24.52%. The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same period in the prior year, the business earned $0.42 earnings per share. CSX’s revenue was up 1.3% on a year-over-year basis. On average, analysts expect that CSX Co. will post 1.93 EPS for the current fiscal 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 dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio is presently 26.37%.

Wall Street Analyst Weigh In

A number of research firms have commented on CSX. Royal Bank of Canada reduced their target price on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Stephens cut their price objective on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. TD Cowen decreased their price target on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. BMO Capital Markets lowered their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, Susquehanna cut their price target on shares of CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $38.61.

About CSX

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.