Tranquility Partners LLC Sells 799 Shares of CSX Co. (NASDAQ:CSX)

Tranquility Partners LLC lowered its position in CSX Co. (NASDAQ:CSX) by 4.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 16,475 shares of the transportation company’s stock after selling 799 shares during the period. Tranquility Partners LLC’s holdings in CSX were worth $569,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Banque Cantonale Vaudoise increased its holdings in shares of CSX by 149.1% in the second quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock worth $575,000 after purchasing an additional 10,301 shares during the last quarter. Ascent Group LLC grew its holdings in CSX by 559.7% during the 1st quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock valued at $2,179,000 after buying an additional 49,869 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in CSX by 20.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock worth $16,139,000 after acquiring an additional 80,423 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in CSX by 0.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after acquiring an additional 24,430 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of CSX by 3.4% during the 3rd quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company’s stock worth $81,095,000 after acquiring an additional 77,488 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CSX shares. Evercore ISI reduced their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Stephens cut their target price on CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Susquehanna lowered their price target on CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research report on Thursday, October 17th. Royal Bank of Canada cut their price objective on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Finally, Citigroup raised their target price on shares of CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. 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 company has a consensus rating of “Moderate Buy” and an average price target of $38.78.

CSX Price Performance

NASDAQ CSX opened at $34.97 on Tuesday. The company has a market cap of $67.44 billion, a PE ratio of 18.80, a P/E/G ratio of 2.23 and a beta of 1.19. CSX Co. has a 52-week low of $31.44 and a 52-week high of $40.12. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The firm’s 50 day moving average price is $34.35 and its 200-day moving average price is $33.91.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. Sell-side analysts forecast that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.37%. CSX’s dividend payout ratio is presently 25.81%.

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.