Oakworth Capital Inc. Cuts Stock Holdings in CSX Co. (NASDAQ:CSX)

Oakworth Capital Inc. trimmed its holdings in shares of CSX Co. (NASDAQ:CSX) by 8.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,446 shares of the transportation company’s stock after selling 678 shares during the period. Oakworth Capital Inc.’s holdings in CSX were worth $257,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Venture Visionary Partners LLC increased its position in CSX by 1.0% during the 3rd quarter. Venture Visionary Partners LLC now owns 53,216 shares of the transportation company’s stock valued at $1,838,000 after purchasing an additional 520 shares during the period. Whittier Trust Co. raised its holdings in CSX by 0.7% in the 3rd quarter. Whittier Trust Co. now owns 110,215 shares of the transportation company’s stock worth $3,805,000 after purchasing an additional 810 shares in the last quarter. McClarren Financial Advisors Inc. raised its holdings in CSX by 1,608.3% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 2,050 shares of the transportation company’s stock worth $71,000 after purchasing an additional 1,930 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in CSX by 9.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 322,810 shares of the transportation company’s stock worth $11,147,000 after purchasing an additional 29,161 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC raised its holdings in CSX by 4.0% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 12,735 shares of the transportation company’s stock worth $440,000 after purchasing an additional 485 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CSX has been the subject of several research reports. BMO Capital Markets decreased their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Royal Bank of Canada decreased their price objective on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Stifel Nicolaus decreased their price target on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Stephens decreased their price target on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Finally, Citigroup started coverage on shares of CSX in a research note on Wednesday, October 9th. They issued a “buy” rating and a $42.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.61.

CSX Price Performance

Shares of NASDAQ:CSX opened at $33.85 on Wednesday. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The business has a 50-day simple moving average of $34.04 and a two-hundred day simple moving average of $33.90. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. The firm has a market cap of $66.17 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share 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 business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same period last year, the firm posted $0.42 EPS. CSX’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, analysts expect that CSX Co. will post 1.93 earnings per share for the current year.

CSX Announces Dividend

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 given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s payout ratio is currently 26.37%.

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.