Cigna Investments Inc. New Has $694,000 Position in CSX Co. (NASDAQ:CSX)

Cigna Investments Inc. New trimmed its position in shares of CSX Co. (NASDAQ:CSX) by 2.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,082 shares of the transportation company’s stock after selling 569 shares during the quarter. Cigna Investments Inc. New’s holdings in CSX were worth $694,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CSX. Catalyst Financial Partners LLC raised its stake in shares of CSX by 44.7% during the third quarter. Catalyst Financial Partners LLC now owns 20,297 shares of the transportation company’s stock valued at $701,000 after acquiring an additional 6,266 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its holdings in CSX by 8.3% in the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 255,765 shares of the transportation company’s stock valued at $8,832,000 after purchasing an additional 19,642 shares during the period. First Trust Direct Indexing L.P. raised its position in CSX by 7.2% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 63,317 shares of the transportation company’s stock worth $2,186,000 after purchasing an additional 4,266 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in CSX by 3,325.7% during the 3rd quarter. Pathway Financial Advisers LLC now owns 459,006 shares of the transportation company’s stock worth $15,849,000 after buying an additional 445,607 shares during the period. Finally, Childress Capital Advisors LLC lifted its holdings in CSX by 6.3% during the 3rd quarter. Childress Capital Advisors LLC now owns 6,742 shares of the transportation company’s stock worth $233,000 after buying an additional 397 shares during the period. 73.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Evercore ISI lowered their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Barclays decreased their target price on shares of CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. Benchmark restated a “buy” rating and issued a $40.00 price target on shares of CSX in a research report on Wednesday, August 7th. Susquehanna decreased their price objective on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research report on Thursday, October 17th. Finally, Stephens lowered their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and a consensus price target of $38.61.

CSX Trading Down 0.7 %

Shares of CSX stock opened at $33.39 on Friday. The stock has a market capitalization of $64.39 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 2.11 and a beta of 1.19. CSX Co. has a 52 week low of $29.64 and a 52 week high of $40.12. The stock has a 50 day moving average price of $34.01 and a two-hundred day moving average price of $33.80. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period in the previous year, the business posted $0.42 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities analysts anticipate that CSX Co. will post 1.86 earnings per share for the current fiscal year.

CSX Announces Dividend

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