CSX Co. (NASDAQ:CSX) Shares Sold by Diversified LLC

Diversified LLC reduced its stake in CSX Co. (NASDAQ:CSX) by 29.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,965 shares of the transportation company’s stock after selling 3,778 shares during the quarter. Diversified LLC’s holdings in CSX were worth $310,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Interval Partners LP increased its position in shares of CSX by 849.0% during the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after acquiring an additional 4,579,344 shares during the period. Manning & Napier Advisors LLC purchased a new stake in CSX during the 2nd quarter worth about $116,430,000. Assenagon Asset Management S.A. raised its position in CSX by 318.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock valued at $112,946,000 after purchasing an additional 2,489,329 shares in the last quarter. Wulff Hansen & CO. raised its position in CSX by 3,243.0% in the 2nd quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after purchasing an additional 2,126,668 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of CSX by 38.7% in the 2nd quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock valued at $225,917,000 after buying an additional 1,884,998 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Price Performance

Shares of NASDAQ CSX opened at $35.91 on Monday. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a twelve month low of $31.65 and a twelve month high of $40.12. The stock has a 50 day moving average of $34.48 and a two-hundred day moving average of $33.94. The stock has a market cap of $69.25 billion, a P/E ratio of 19.24, a P/E/G ratio of 2.27 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its quarterly earnings data 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 net margin of 24.77% and a return on equity of 28.92%. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter in the prior year, the firm posted $0.42 EPS. CSX’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, research analysts forecast that CSX Co. will post 1.84 earnings per share for the current year.

CSX Announces Dividend

The company also recently disclosed 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. This represents a $0.48 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio is currently 25.81%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CSX shares. Citigroup boosted their price objective on CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Loop Capital lowered their price objective on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Evercore ISI lowered their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Royal Bank of Canada lowered their price objective on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Finally, Stephens lowered their price objective on CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $38.78.

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.