Peapack Gladstone Financial Corp Sells 3,321 Shares of CSX Co. (NASDAQ:CSX)

Peapack Gladstone Financial Corp decreased its position in shares of CSX Co. (NASDAQ:CSX) by 2.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 144,267 shares of the transportation company’s stock after selling 3,321 shares during the period. Peapack Gladstone Financial Corp’s holdings in CSX were worth $4,982,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tidal Investments LLC boosted its stake in shares of CSX by 9.2% during the third quarter. Tidal Investments LLC now owns 194,760 shares of the transportation company’s stock valued at $6,725,000 after purchasing an additional 16,456 shares during the period. Wilmington Savings Fund Society FSB grew its stake in CSX by 260.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 24,970 shares of the transportation company’s stock worth $862,000 after acquiring an additional 18,049 shares in the last quarter. World Investment Advisors LLC increased its position in shares of CSX by 137.4% during the third quarter. World Investment Advisors LLC now owns 16,145 shares of the transportation company’s stock worth $557,000 after acquiring an additional 9,344 shares during the period. Sanctuary Advisors LLC raised its stake in shares of CSX by 10.7% during the third quarter. Sanctuary Advisors LLC now owns 166,381 shares of the transportation company’s stock valued at $5,953,000 after acquiring an additional 16,073 shares in the last quarter. Finally, Tudor Financial Inc. purchased a new stake in shares of CSX in the third quarter valued at approximately $473,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of NASDAQ CSX opened at $33.24 on Friday. CSX Co. has a fifty-two week low of $31.74 and a fifty-two week high of $40.12. The company has a market cap of $64.10 billion, a PE ratio of 17.87, a P/E/G ratio of 2.24 and a beta of 1.20. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The business has a 50-day simple moving average of $34.77 and a two-hundred day simple moving average of $34.09.

CSX (NASDAQ:CSX) last released its 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). The company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the business earned $0.42 earnings per share. As a group, equities analysts expect that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a $0.12 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.44%. CSX’s dividend payout ratio (DPR) is 25.81%.

Analyst Ratings Changes

Several research firms have commented on CSX. Susquehanna reduced their price objective on CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Thursday, October 17th. Citigroup lifted their price objective on CSX from $42.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Evercore ISI dropped 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. Royal Bank of Canada reduced their price target on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Finally, TD Cowen dropped their price objective on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.78.

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.