Folger Nolan Fleming Douglas Capital Management Inc. Lowers Stock Holdings in CSX Co. (NASDAQ:CSX)

Folger Nolan Fleming Douglas Capital Management Inc. cut its holdings in CSX Co. (NASDAQ:CSX) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,001 shares of the transportation company’s stock after selling 550 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in CSX were worth $829,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of CSX by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock worth $2,418,883,000 after acquiring an additional 443,755 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of CSX by 6.6% during the 2nd 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. Dimensional Fund Advisors LP increased its holdings in CSX by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock valued at $415,466,000 after purchasing an additional 1,060,617 shares in the last quarter. Bank of Montreal Can grew its stake in shares of CSX by 38.7% in the second 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 in the last quarter. Finally, Interval Partners LP lifted 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 purchasing an additional 4,579,344 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Up 0.9 %

CSX opened at $33.54 on Thursday. CSX Co. has a twelve month low of $29.28 and a twelve month high of $40.12. 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 business has a 50 day moving average price of $34.01 and a 200 day moving average price of $33.81. The firm has a market cap of $65.57 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19.

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

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.43%. CSX’s payout ratio is 26.37%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CSX shares. Evercore ISI cut their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Wells Fargo & Company dropped their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Stifel Nicolaus decreased their target price on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Sanford C. Bernstein lifted their price objective on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Finally, Bank of America downgraded CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Monday, July 8th. Seven investment 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, the stock has an average rating of “Moderate Buy” and a consensus 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.