New Capital Management LP Lowers Stock Holdings in CSX Co. (NASDAQ:CSX)

New Capital Management LP lowered its position in shares of CSX Co. (NASDAQ:CSX) by 18.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,453 shares of the transportation company’s stock after selling 1,431 shares during the period. New Capital Management LP’s holdings in CSX were worth $223,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CSX. Banque Cantonale Vaudoise boosted its stake in CSX by 149.1% in the second quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock worth $575,000 after buying an additional 10,301 shares in the last quarter. Ascent Group LLC boosted its stake in shares of CSX by 559.7% in the 1st quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock valued at $2,179,000 after purchasing an additional 49,869 shares in the last quarter. PFG Advisors grew its holdings in shares of CSX by 2.1% during the 1st quarter. PFG Advisors now owns 18,880 shares of the transportation company’s stock valued at $700,000 after purchasing an additional 387 shares during the last quarter. Sei Investments Co. raised its position in CSX by 4.2% in the 1st quarter. Sei Investments Co. now owns 597,426 shares of the transportation company’s stock worth $22,146,000 after purchasing an additional 23,938 shares during the period. Finally, William B. Walkup & Associates Inc. bought a new stake in CSX in the second quarter worth $867,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CSX has been the topic of a number of recent research reports. Sanford C. Bernstein raised their price objective on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. Benchmark reaffirmed a “buy” rating and issued a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. Bank of America downgraded CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Monday, July 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $36.00 target price on shares of CSX in a report on Tuesday, August 6th. Finally, Evercore ISI raised shares of CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

CSX Stock Down 1.2 %

Shares of NASDAQ:CSX traded down $0.40 during midday trading on Monday, reaching $34.09. The company’s stock had a trading volume of 1,226,967 shares, compared to its average volume of 11,493,122. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The firm has a 50 day moving average of $33.97 and a 200-day moving average of $34.10. The firm has a market capitalization of $66.64 billion, a P/E ratio of 18.95, a PEG ratio of 1.91 and a beta of 1.19. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. CSX had a net margin of 24.52% and a return on equity of 29.11%. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the prior year, the company earned $0.49 earnings per share. The business’s revenue was up .0% compared to the same quarter last year. On average, research analysts anticipate that CSX Co. will post 1.93 earnings per share for the current year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s payout ratio is 26.37%.

CSX 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.