RB Capital Management LLC Has $311,000 Position in CSX Co. (NASDAQ:CSX)

RB Capital Management LLC trimmed its position in shares of CSX Co. (NASDAQ:CSX) by 3.7% in the third quarter, Holdings Channel reports. The fund owned 9,000 shares of the transportation company’s stock after selling 347 shares during the quarter. RB Capital Management LLC’s holdings in CSX were worth $311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in CSX. State Street Corp increased its position in shares of CSX by 0.6% during the third quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock valued at $2,840,117,000 after purchasing an additional 455,258 shares during the period. Geode Capital Management LLC boosted its position in shares of CSX by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock valued at $1,407,087,000 after acquiring an additional 190,346 shares in the last quarter. Fisher Asset Management LLC raised its position in CSX by 3.6% in the third quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock worth $851,404,000 after purchasing an additional 857,302 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in CSX by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock worth $573,128,000 after purchasing an additional 1,060,204 shares during the period. Finally, FMR LLC grew its stake in shares of CSX by 10.2% in the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after purchasing an additional 1,447,651 shares during the period. Institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Susquehanna cut their target price on CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research report on Thursday, October 17th. Citigroup lifted their price objective on CSX from $42.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. BMO Capital Markets lowered their target price on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Wells Fargo & Company cut their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Finally, Stifel Nicolaus decreased their price objective on shares of CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and an average target price of $38.78.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $33.97 on Tuesday. The stock has a market capitalization of $65.51 billion, a P/E ratio of 18.26, a P/E/G ratio of 2.19 and a beta of 1.20. 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 1-year low of $31.74 and a 1-year high of $40.12. The business has a 50-day moving average price of $34.82 and a two-hundred day moving average price of $34.09.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 earnings per share. Equities analysts predict that CSX Co. will post 1.84 earnings per share for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. CSX’s dividend payout ratio is presently 25.81%.

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.