QRG Capital Management Inc. Decreases Stake in CSX Co. (NASDAQ:CSX)

QRG Capital Management Inc. lessened its holdings in shares of CSX Co. (NASDAQ:CSX) by 0.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 284,901 shares of the transportation company’s stock after selling 747 shares during the period. QRG Capital Management Inc.’s holdings in CSX were worth $9,838,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CSX. Itau Unibanco Holding S.A. acquired a new position in CSX during the second quarter worth approximately $26,000. MFA Wealth Advisors LLC acquired a new position in shares of CSX in the second quarter valued at approximately $27,000. Fairscale Capital LLC acquired a new position in shares of CSX in the second quarter valued at approximately $32,000. Morton Brown Family Wealth LLC acquired a new position in shares of CSX in the third quarter valued at approximately $31,000. Finally, TFC Financial Management Inc. increased its holdings in shares of CSX by 72.4% in the second 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 during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Royal Bank of Canada decreased their price target on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. Barclays decreased their target price on CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Stifel Nicolaus decreased their target price on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. TD Cowen decreased their target price on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Finally, Evercore ISI decreased their target price on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.61.

CSX Stock Performance

NASDAQ CSX opened at $33.36 on Tuesday. The business’s 50-day moving average price is $34.01 and its 200 day moving average price is $33.78. CSX Co. has a twelve month low of $30.00 and a twelve month high of $40.12. The company has a market capitalization of $64.33 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last released 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 firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 earnings per share. On average, research analysts predict that CSX Co. will post 1.86 earnings per share for the current year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.44%. CSX’s dividend payout ratio (DPR) is 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.