CSX Co. (NASDAQ:CSX) Position Trimmed by M&R Capital Management Inc.

M&R Capital Management Inc. lowered its stake in CSX Co. (NASDAQ:CSX) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,218 shares of the transportation company’s stock after selling 1,731 shares during the period. M&R Capital Management Inc.’s holdings in CSX were worth $2,632,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of CSX. Price T Rowe Associates Inc. MD increased its position in shares of CSX by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock worth $2,418,883,000 after acquiring an additional 443,755 shares in the last quarter. Fisher Asset Management LLC boosted its stake in CSX by 2.0% in the 4th quarter. Fisher Asset Management LLC now owns 22,340,864 shares of the transportation company’s stock worth $774,558,000 after purchasing an additional 433,228 shares during the period. Bank of New York Mellon Corp grew its position in CSX by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock worth $573,128,000 after purchasing an additional 1,060,204 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in CSX by 9.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock valued at $415,466,000 after purchasing an additional 1,060,617 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of CSX by 38.7% in the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock valued at $225,917,000 after purchasing an additional 1,884,998 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CSX shares. Sanford C. Bernstein lifted their target price on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $36.00 price objective on shares of CSX in a research report on Tuesday, August 6th. Stephens reiterated an “overweight” rating and issued a $42.00 target price on shares of CSX in a research report on Tuesday, August 6th. Wells Fargo & Company started coverage on CSX in a report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price objective on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.00.

CSX Stock Performance

CSX stock opened at $34.17 on Thursday. The stock has a 50-day simple moving average of $33.96 and a 200 day simple moving average of $34.17. The stock has a market capitalization of $66.80 billion, a price-to-earnings ratio of 18.77, a P/E/G ratio of 1.91 and a beta of 1.19. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12.

CSX (NASDAQ:CSX) last announced its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) 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 company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period in the prior year, the business earned $0.49 earnings per share. CSX’s quarterly revenue was up .0% on a year-over-year basis. On average, research analysts anticipate that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a yield of 1.40%. CSX’s payout ratio is presently 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.