Pitcairn Co. Sells 561 Shares of CSX Co. (NASDAQ:CSX)

Pitcairn Co. trimmed its stake in CSX Co. (NASDAQ:CSX) by 1.5% in the third quarter, Holdings Channel reports. The firm owned 37,885 shares of the transportation company’s stock after selling 561 shares during the quarter. Pitcairn Co.’s holdings in CSX were worth $1,308,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its stake in shares of CSX by 581.7% during the 1st quarter. Advisors Asset Management Inc. now owns 5,283 shares of the transportation company’s stock worth $196,000 after acquiring an additional 4,508 shares during the period. BOKF NA boosted its stake in shares of CSX by 7.2% during the 1st quarter. BOKF NA now owns 80,532 shares of the transportation company’s stock worth $2,962,000 after acquiring an additional 5,419 shares during the period. Ascent Group LLC boosted its stake in shares of CSX by 559.7% during the 1st quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock worth $2,179,000 after acquiring an additional 49,869 shares during the period. Zurich Insurance Group Ltd FI bought a new position in shares of CSX during the 1st quarter worth approximately $1,950,000. Finally, Interval Partners LP bought a new position in shares of CSX during the 1st quarter worth approximately $19,996,000. 73.57% of the stock is currently owned by institutional investors.

CSX Price Performance

CSX stock opened at $35.78 on Friday. 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 Co. has a 52 week low of $31.65 and a 52 week high of $40.12. The stock has a market capitalization of $69.00 billion, a P/E ratio of 19.24, a price-to-earnings-growth ratio of 2.24 and a beta of 1.19. The stock has a fifty day moving average of $34.48 and a 200-day moving average of $33.94.

CSX (NASDAQ:CSX) last posted its quarterly 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 business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same period last year, the firm posted $0.42 EPS. CSX’s quarterly revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts expect that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Dividend Announcement

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 issued a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.34%. CSX’s dividend payout ratio (DPR) is currently 25.81%.

Analyst Ratings Changes

CSX has been the subject of several research analyst reports. Barclays lifted their target price on CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Evercore ISI reduced their price target on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Royal Bank of Canada reduced their price target on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. JPMorgan Chase & Co. boosted their price target on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Finally, Benchmark restated a “buy” rating and issued a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, CSX has a consensus rating of “Moderate Buy” and an average target price of $38.78.

CSX Company Profile

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.