Chapin Davis Inc. Sells 1,710 Shares of CSX Co. (NASDAQ:CSX)

Chapin Davis Inc. lowered its holdings in shares of CSX Co. (NASDAQ:CSX) by 2.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 60,885 shares of the transportation company’s stock after selling 1,710 shares during the period. Chapin Davis Inc.’s holdings in CSX were worth $2,037,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in shares of CSX by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock worth $2,418,883,000 after purchasing an additional 443,755 shares in the last quarter. Capital International Investors grew its stake in CSX by 14.3% in the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after acquiring an additional 5,041,679 shares during the period. Fisher Asset Management LLC grew its stake in CSX by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 22,378,276 shares of the transportation company’s stock valued at $775,855,000 after acquiring an additional 470,640 shares during the period. Norges Bank bought a new stake in shares of CSX during the fourth quarter valued at approximately $757,276,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of CSX by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,217,832 shares of the transportation company’s stock worth $388,922,000 after purchasing an additional 135,169 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Performance

CSX traded down $0.21 during midday trading on Friday, reaching $33.42. The company had a trading volume of 9,870,518 shares, compared to its average volume of 11,812,768. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The business has a 50-day moving average price of $33.63 and a two-hundred day moving average price of $34.95. The stock has a market cap of $65.33 billion, a PE ratio of 18.36, a P/E/G ratio of 1.89 and a beta of 1.20. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the prior year, the business earned $0.49 earnings per share. CSX’s revenue for the quarter was up .0% on a year-over-year basis. On average, sell-side analysts expect that CSX Co. will post 1.94 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.44%. CSX’s payout ratio is 26.37%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CSX shares. BMO Capital Markets reissued an “outperform” rating and issued a $40.00 price target on shares of CSX in a research report on Tuesday, August 6th. Benchmark restated a “buy” rating and issued a $40.00 target price on shares of CSX in a report on Wednesday, August 7th. Sanford C. Bernstein upped their price target on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Stephens reissued an “overweight” rating and issued a $42.00 price target on shares of CSX in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.80.

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.