CSX Co. (NASDAQ:CSX) Shares Sold by New England Asset Management Inc.

New England Asset Management Inc. trimmed its stake in shares of CSX Co. (NASDAQ:CSX) by 6.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,460 shares of the transportation company’s stock after selling 4,040 shares during the period. New England Asset Management Inc.’s holdings in CSX were worth $1,984,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Valley Wealth Managers Inc. grew its position in CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after purchasing an additional 480 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of CSX in the second quarter valued at $26,000. MFA Wealth Advisors LLC acquired a new stake in shares of CSX in the second quarter worth $27,000. Fairscale Capital LLC purchased a new position in shares of CSX during the second quarter valued at $32,000. Finally, Morton Brown Family Wealth LLC acquired a new position in CSX during the third quarter valued at $31,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Trading Down 0.5 %

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

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

CSX Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have commented on CSX shares. Stephens decreased their price objective on CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Stifel Nicolaus lowered their price objective on shares of CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. JPMorgan Chase & Co. upped their price target on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Citigroup raised their price objective on shares of CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Benchmark restated a “buy” rating and set a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and an average target price of $38.78.

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.