First Trust Advisors LP lessened its holdings in shares of CSX Co. (NASDAQ:CSX) by 9.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 612,343 shares of the transportation company’s stock after selling 67,192 shares during the quarter. First Trust Advisors LP’s holdings in CSX were worth $45,344,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of CSX. Acropolis Investment Management LLC purchased a new position in shares of CSX during the 3rd quarter valued at about $107,000. IMS Capital Management purchased a new position in shares of CSX during the 2nd quarter valued at about $124,000. Strategic Wealth Partners Ltd. purchased a new position in shares of CSX during the 2nd quarter valued at about $128,000. Kaizen Advisory LLC raised its holdings in shares of CSX by 150.5% during the 2nd quarter. Kaizen Advisory LLC now owns 2,164 shares of the transportation company’s stock valued at $138,000 after buying an additional 1,300 shares in the last quarter. Finally, Delta Asset Management LLC TN purchased a new position in shares of CSX during the 3rd quarter valued at about $148,000. Hedge funds and other institutional investors own 76.09% of the company’s stock.
CSX opened at $68.81 on Wednesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.29 and a current ratio of 1.43. CSX Co. has a 52-week low of $48.26 and a 52-week high of $76.24. The company has a market cap of $55.66 billion, a PE ratio of 18.88, a price-to-earnings-growth ratio of 1.30 and a beta of 1.24.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.28%. CSX’s dividend payout ratio (DPR) is presently 38.26%.
A number of brokerages have commented on CSX. Deutsche Bank lifted their price target on CSX from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, September 27th. BidaskClub raised CSX from a “hold” rating to a “buy” rating in a research note on Wednesday, July 4th. Stifel Nicolaus set a $85.00 price target on CSX and gave the stock a “buy” rating in a research note on Wednesday, October 17th. Citigroup lifted their price target on CSX from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, October 1st. Finally, Bank of America lifted their price target on CSX from $77.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, October 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $77.60.
CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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