Davis R M Inc. Cuts Stock Holdings in CSX Co. (NASDAQ:CSX)

Davis R M Inc. cut its holdings in shares of CSX Co. (NASDAQ:CSX) by 3.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,907 shares of the transportation company’s stock after selling 523 shares during the period. Davis R M Inc.’s holdings in CSX were worth $480,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Douglass Winthrop Advisors LLC increased its holdings in shares of CSX by 72.8% during the third quarter. Douglass Winthrop Advisors LLC now owns 34,176 shares of the transportation company’s stock valued at $1,180,000 after acquiring an additional 14,400 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of CSX by 3.6% during the third quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock worth $851,404,000 after purchasing an additional 857,302 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of CSX by 15.2% in the 3rd quarter. Daiwa Securities Group Inc. now owns 433,081 shares of the transportation company’s stock valued at $14,955,000 after buying an additional 57,134 shares during the period. Summit Trail Advisors LLC lifted its holdings in CSX by 4.5% in the third quarter. Summit Trail Advisors LLC now owns 91,293 shares of the transportation company’s stock valued at $3,152,000 after acquiring an additional 3,961 shares during the period. Finally, Borer Denton & Associates Inc. boosted its holdings in CSX by 46.3% during the third quarter. Borer Denton & Associates Inc. now owns 12,349 shares of the transportation company’s stock worth $426,000 after buying an additional 3,910 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Price Performance

CSX stock opened at $36.62 on Tuesday. CSX Co. has a 1 year low of $31.65 and a 1 year high of $40.12. The firm has a market capitalization of $70.62 billion, a P/E ratio of 19.69, a P/E/G ratio of 2.27 and a beta of 1.19. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The business’s 50-day moving average is $34.53 and its two-hundred day moving average is $33.96.

CSX (NASDAQ:CSX) last issued 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). CSX had a return on equity of 28.92% and a net margin of 24.77%. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the previous year, the firm posted $0.42 EPS. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. Analysts anticipate that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is 25.81%.

Wall Street Analyst Weigh In

CSX has been the subject of several recent analyst reports. Barclays lifted their price target on CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. lifted their target price on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Citigroup upped their price target on CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Stephens reduced their price target on CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Finally, Susquehanna decreased 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. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.