Joel Isaacson & Co. LLC Reduces Stock Position in CSX Co. (NASDAQ:CSX)

Joel Isaacson & Co. LLC trimmed its holdings in shares of CSX Co. (NASDAQ:CSX) by 7.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,726 shares of the transportation company’s stock after selling 987 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in CSX were worth $439,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in CSX during the second quarter worth $26,000. MFA Wealth Advisors LLC purchased a new position in shares of CSX during the 2nd quarter worth about $27,000. Fairscale Capital LLC bought a new position in CSX during the 2nd quarter valued at about $32,000. Strategic Financial Concepts LLC purchased a new stake in CSX in the 2nd quarter worth about $33,000. Finally, Valued Wealth Advisors LLC lifted its stake in CSX by 172.7% in the first quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock worth $35,000 after purchasing an additional 594 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Trading Up 0.5 %

CSX opened at $33.27 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The firm has a market cap of $65.04 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.90 and a beta of 1.19. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12. The stock has a fifty day moving average price of $34.03 and a 200-day moving average price of $33.86.

CSX (NASDAQ:CSX) last announced 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 29.11% and a net margin of 24.52%. The firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the prior year, the firm posted $0.42 earnings per share. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities research analysts anticipate that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.44%. CSX’s dividend payout ratio (DPR) is 26.37%.

Wall Street Analyst Weigh In

CSX has been the topic of a number of analyst reports. Loop Capital cut their target price on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Evercore ISI cut their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Stephens decreased their target price on CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Citigroup initiated coverage on shares of CSX in a report on Wednesday, October 9th. They issued a “buy” rating and a $42.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and an average target price of $38.61.

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.