CSX Co. (NASDAQ:CSX) Shares Sold by Valley National Advisers Inc.

Valley National Advisers Inc. lessened its stake in shares of CSX Co. (NASDAQ:CSX) by 29.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,018 shares of the transportation company’s stock after selling 2,539 shares during the quarter. Valley National Advisers Inc.’s holdings in CSX were worth $206,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in CSX during the 2nd quarter worth $26,000. MFA Wealth Advisors LLC acquired a new position in shares of CSX in the second quarter worth about $27,000. Fairscale Capital LLC acquired a new position in shares of CSX in the second quarter worth about $32,000. Strategic Financial Concepts LLC purchased a new position in CSX in the second quarter valued at about $33,000. Finally, TFC Financial Management Inc. grew its stake in CSX by 72.4% during the 2nd quarter. TFC Financial Management Inc. now owns 1,048 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 440 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

CSX has been the subject of several research analyst reports. Citigroup started coverage on CSX in a research note on Wednesday, October 9th. They set a “buy” rating and a $42.00 target price for the company. Evercore ISI decreased their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. JPMorgan Chase & Co. increased their price target on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. 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. Finally, Susquehanna reduced their target price on CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.61.

CSX Stock Performance

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

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. CSX’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 EPS. On average, sell-side analysts anticipate that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 26.37%.

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.