Fiduciary Trust Co Sells 2,907 Shares of CSX Co. (NASDAQ:CSX)

Fiduciary Trust Co lessened its stake in shares of CSX Co. (NASDAQ:CSX) by 6.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,944 shares of the transportation company’s stock after selling 2,907 shares during the quarter. Fiduciary Trust Co’s holdings in CSX were worth $1,586,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Itau Unibanco Holding S.A. acquired a new stake in shares of CSX during the second quarter worth approximately $26,000. Valley Wealth Managers Inc. increased 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 purchasing an additional 480 shares in the last quarter. MFA Wealth Advisors LLC bought a new position in CSX in the 2nd quarter valued at $27,000. Morton Brown Family Wealth LLC acquired a new position in CSX in the third quarter worth $31,000. Finally, Fairscale Capital LLC bought a new stake in shares of CSX during the second quarter worth $32,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Down 0.1 %

NASDAQ:CSX opened at $36.55 on Friday. The stock has a market cap of $70.48 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 2.32 and a beta of 1.19. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a 50-day moving average price of $34.70 and a two-hundred day moving average price of $34.02. CSX Co. has a 1 year low of $31.72 and a 1 year high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.42 EPS. As a group, equities analysts expect that CSX Co. will post 1.84 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.31%. CSX’s dividend payout ratio is currently 25.81%.

Analysts Set New Price Targets

Several research analysts recently issued reports on CSX shares. Evercore ISI reduced their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Wells Fargo & Company reduced their target price 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. JPMorgan Chase & Co. raised their price target on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Citigroup boosted their price objective on shares of CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, BMO Capital Markets decreased their price objective on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $38.78.

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.