CSX Co. (NASDAQ:CSX) Shares Sold by Jacobs & Co. CA

Jacobs & Co. CA lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 1.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 352,422 shares of the transportation company’s stock after selling 5,613 shares during the quarter. CSX makes up about 1.4% of Jacobs & Co. CA’s investment portfolio, making the stock its 25th largest holding. Jacobs & Co. CA’s holdings in CSX were worth $13,064,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. LPL Financial LLC boosted its holdings in CSX by 5.3% in the third quarter. LPL Financial LLC now owns 2,041,902 shares of the transportation company’s stock worth $62,788,000 after purchasing an additional 102,159 shares during the period. Mariner LLC boosted its holdings in CSX by 1.8% in the third quarter. Mariner LLC now owns 379,538 shares of the transportation company’s stock worth $11,671,000 after purchasing an additional 6,703 shares during the period. Stifel Financial Corp boosted its holdings in CSX by 4.5% in the third quarter. Stifel Financial Corp now owns 911,302 shares of the transportation company’s stock worth $28,023,000 after purchasing an additional 39,031 shares during the period. Federated Hermes Inc. boosted its holdings in CSX by 251.3% in the third quarter. Federated Hermes Inc. now owns 46,806 shares of the transportation company’s stock worth $1,439,000 after purchasing an additional 33,482 shares during the period. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in CSX by 11.8% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 33,474 shares of the transportation company’s stock worth $1,029,000 after purchasing an additional 3,531 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Performance

CSX traded down $0.58 on Tuesday, hitting $32.63. The company had a trading volume of 3,437,008 shares, compared to its average volume of 11,844,230. The company’s fifty day moving average price is $33.58 and its 200 day moving average price is $35.14. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. The stock has a market cap of $63.79 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 1.73 and a beta of 1.19.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same period in the previous year, the company earned $0.48 EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. Equities analysts predict that CSX Co. will post 1.96 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a $0.12 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.47%. CSX’s payout ratio is 26.37%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CSX. Jefferies Financial Group reduced their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, April 18th. Royal Bank of Canada reduced their price target on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. Wells Fargo & Company assumed coverage on shares of CSX in a report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target for the company. Susquehanna cut their price objective on shares of CSX from $44.00 to $40.00 and set a “positive” rating on the stock in a research note on Tuesday. Finally, Stifel Nicolaus lifted their price objective on shares of CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Six 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 presently has an average rating of “Moderate Buy” and a consensus target price of $37.59.

About CSX

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.