Massachusetts Financial Services Co. MA Decreases Holdings in CSX Co. (NASDAQ:CSX)

Massachusetts Financial Services Co. MA lowered its stake in CSX Co. (NASDAQ:CSX) by 3.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,718,243 shares of the transportation company’s stock after selling 93,357 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.14% of CSX worth $93,861,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. raised its holdings in CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after buying an additional 480 shares during the period. Itau Unibanco Holding S.A. bought a new position in CSX during the second quarter valued at $26,000. MFA Wealth Advisors LLC purchased a new stake in shares of CSX in the second quarter valued at $27,000. Fairscale Capital LLC bought a new stake in shares of CSX in the 2nd quarter worth about $32,000. Finally, Morton Brown Family Wealth LLC bought a new stake in shares of CSX in the 3rd quarter worth about $31,000. 73.57% of the stock is owned by institutional investors.

CSX Trading Up 1.2 %

CSX stock opened at $35.78 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The stock has a market cap of $69.00 billion, a PE ratio of 19.24, a price-to-earnings-growth ratio of 2.24 and a beta of 1.19. The stock has a 50-day moving average of $34.48 and a two-hundred day moving average of $33.94. CSX Co. has a one year low of $31.65 and a one year high of $40.12.

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

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.12 per share. 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 1.34%. CSX’s dividend payout ratio is currently 25.81%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Royal Bank of Canada reduced their price target on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. Wells Fargo & Company lowered their price objective on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Benchmark restated a “buy” rating and issued a $40.00 target price on shares of CSX in a research note on Wednesday, August 7th. Finally, Barclays lifted their price target on shares of CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.78.

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.