CSX Co. (NASDAQ:CSX) Shares Sold by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC reduced its stake in shares of CSX Co. (NASDAQ:CSX) by 5.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 9,565 shares of the transportation company’s stock after selling 523 shares during the quarter. Lake Street Private Wealth LLC’s holdings in CSX were worth $330,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Commerzbank Aktiengesellschaft FI raised its stake in CSX by 45.1% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 60,637 shares of the transportation company’s stock valued at $2,094,000 after purchasing an additional 18,849 shares during the last quarter. Community Trust & Investment Co. grew its holdings in shares of CSX by 7.7% during the third quarter. Community Trust & Investment Co. now owns 29,454 shares of the transportation company’s stock worth $1,017,000 after buying an additional 2,100 shares in the last quarter. Leo Wealth LLC grew its holdings in shares of CSX by 17.2% during the third quarter. Leo Wealth LLC now owns 24,998 shares of the transportation company’s stock worth $863,000 after buying an additional 3,665 shares in the last quarter. Eastern Bank acquired a new position in shares of CSX in the third quarter valued at approximately $1,761,000. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of CSX by 13.4% during the third quarter. Sequoia Financial Advisors LLC now owns 114,523 shares of the transportation company’s stock valued at $3,954,000 after buying an additional 13,523 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

CSX stock opened at $33.59 on Thursday. The firm has a fifty day moving average of $34.04 and a 200-day moving average of $33.90. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. 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 market capitalization of $65.67 billion, a P/E ratio of 18.46, a PEG ratio of 1.90 and a beta of 1.19.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a net margin of 24.52% and a return on equity of 29.11%. The company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the prior year, the company posted $0.42 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, analysts predict that CSX Co. will post 1.93 EPS for the current year.

CSX Announces Dividend

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 issued a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. CSX’s payout ratio is currently 26.37%.

Analysts Set New Price Targets

Several analysts have commented on CSX shares. Sanford C. Bernstein lifted their target price on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Loop Capital dropped their target price on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Susquehanna reduced their target price on CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research report on Thursday, October 17th. Royal Bank of Canada lowered their price target on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Finally, TD Cowen dropped their price objective on shares of CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.61.

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.