Donaldson Capital Management LLC Trims Position in CSX Co. (NASDAQ:CSX)

Donaldson Capital Management LLC lowered its holdings in CSX Co. (NASDAQ:CSX) by 3.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,227 shares of the transportation company’s stock after selling 2,252 shares during the period. Donaldson Capital Management LLC’s holdings in CSX were worth $1,942,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CSX. Itau Unibanco Holding S.A. acquired a new stake in shares of CSX during the 2nd quarter worth $26,000. MFA Wealth Advisors LLC acquired a new stake in CSX during the second quarter worth about $27,000. Morton Brown Family Wealth LLC purchased a new position in shares of CSX in the 3rd quarter worth about $31,000. Fairscale Capital LLC acquired a new position in shares of CSX in the 2nd quarter valued at about $32,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of CSX during the 2nd quarter worth about $33,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CSX has been the topic of a number of recent research reports. Stephens reduced their price target on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Evercore ISI reduced their target price on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Sanford C. Bernstein increased their price target on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research report on Monday, July 8th. Finally, Loop Capital decreased their target price on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.61.

CSX Stock Down 0.7 %

Shares of CSX stock opened at $33.39 on Monday. The business has a 50-day moving average price of $34.01 and a 200 day moving average price of $33.79. CSX Co. has a fifty-two week low of $29.64 and a fifty-two week high of $40.12. The firm has a market cap of $64.39 billion, a P/E ratio of 17.95, a P/E/G ratio of 2.12 and a beta of 1.19. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last issued its quarterly earnings results 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 firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. CSX’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 earnings per share. On average, sell-side analysts forecast that CSX Co. will post 1.86 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. Stockholders of record on Friday, November 29th will be given a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.44%. CSX’s payout ratio is currently 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.