CSX Co. (NASDAQ:CSX) Position Cut by Acute Investment Advisory LLC

Acute Investment Advisory LLC trimmed its holdings in CSX Co. (NASDAQ:CSX) by 26.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,381 shares of the transportation company’s stock after selling 2,956 shares during the quarter. CSX comprises 0.2% of Acute Investment Advisory LLC’s portfolio, making the stock its 14th largest holding. Acute Investment Advisory LLC’s holdings in CSX were worth $289,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Western Wealth Management LLC boosted its stake in CSX by 0.8% during the 2nd quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock valued at $1,208,000 after purchasing an additional 295 shares in the last quarter. TriaGen Wealth Management LLC boosted its stake in CSX by 2.7% during the 2nd quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock valued at $385,000 after purchasing an additional 300 shares in the last quarter. Team Hewins LLC boosted its stake in CSX by 1.7% during the 1st quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock valued at $696,000 after purchasing an additional 306 shares in the last quarter. Lake Street Advisors Group LLC boosted its stake in CSX by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock valued at $595,000 after purchasing an additional 306 shares in the last quarter. Finally, J.W. Cole Advisors Inc. boosted its stake in CSX by 0.9% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock valued at $1,222,000 after purchasing an additional 309 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Trading Down 0.7 %

Shares of NASDAQ:CSX opened at $33.39 on Friday. The company has a market cap of $64.39 billion, a P/E ratio of 17.95, a P/E/G ratio of 2.12 and a beta of 1.19. The stock’s 50-day moving average is $34.01 and its 200-day moving average is $33.79. CSX Co. has a 52-week low of $29.64 and a 52-week high of $40.12. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39.

CSX (NASDAQ:CSX) last released its earnings results 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). CSX had a net margin of 24.77% and a return on equity of 28.92%. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the previous year, the business posted $0.42 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. Equities research analysts predict that CSX Co. will post 1.86 earnings per share for the current year.

CSX Announces Dividend

The business 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 $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s payout ratio is presently 25.81%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Evercore ISI cut 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. Bank of America downgraded CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Monday, July 8th. Citigroup assumed coverage on CSX in a research report on Wednesday, October 9th. They set a “buy” rating and a $42.00 price objective for the company. Sanford C. Bernstein increased their price objective on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Finally, BMO Capital Markets reduced their target price on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.61.

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.