CSX Co. (NASDAQ:CSX) Stock Position Reduced by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. decreased its stake in CSX Co. (NASDAQ:CSX) by 1.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,219 shares of the transportation company’s stock after selling 392 shares during the quarter. Confluence Wealth Services Inc.’s holdings in CSX were worth $1,009,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its stake 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 valued at $2,418,883,000 after buying an additional 443,755 shares in the last quarter. Bank of New York Mellon Corp grew its position in CSX by 6.6% in 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 acquiring an additional 1,060,204 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of CSX by 9.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock worth $415,466,000 after purchasing an additional 1,060,617 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of CSX by 38.7% during 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 purchasing an additional 1,884,998 shares in the last quarter. Finally, Interval Partners LP lifted its stake in shares of CSX by 849.0% in the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock valued at $171,222,000 after purchasing an additional 4,579,344 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Down 0.7 %

Shares of CSX stock opened at $33.39 on Monday. The stock has a market cap of $64.39 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The stock has a fifty day moving average price of $34.01 and a 200 day moving average price of $33.79. CSX Co. has a one year low of $29.64 and a one year high of $40.12.

CSX (NASDAQ:CSX) last issued 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 business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter last year, the firm posted $0.42 earnings per share. CSX’s revenue was up 1.3% on a year-over-year basis. Analysts predict that CSX Co. will post 1.86 earnings per share for the current year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 dividend yield of 1.44%. CSX’s payout ratio is presently 25.81%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Stephens cut their target price on CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Loop Capital reduced their target price on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Bank of America downgraded CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Monday, July 8th. BMO Capital Markets reduced their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, TD Cowen lowered their target price on shares of CSX from $36.00 to $35.00 and set a “hold” 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 given a buy rating to the company. According to MarketBeat, CSX 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.