Atom Investors LP Cuts Stake in CSX Co. (NASDAQ:CSX)

Atom Investors LP cut its holdings in CSX Co. (NASDAQ:CSX) by 62.5% in the third quarter, Holdings Channel reports. The fund owned 102,535 shares of the transportation company’s stock after selling 170,721 shares during the quarter. Atom Investors LP’s holdings in CSX were worth $3,541,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in shares of CSX in the 2nd quarter valued at $26,000. Valley Wealth Managers Inc. grew its stake in CSX by 177.8% in the third 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 during the last quarter. MFA Wealth Advisors LLC bought a new position in CSX in the second quarter worth about $27,000. Morton Brown Family Wealth LLC purchased a new stake in shares of CSX during the third quarter valued at about $31,000. Finally, Fairscale Capital LLC bought a new stake in shares of CSX in the 2nd quarter valued at about $32,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Trading Up 0.2 %

CSX stock opened at $36.55 on Monday. The firm has a market cap of $70.48 billion, a PE ratio of 19.65, a P/E/G ratio of 2.32 and a beta of 1.19. CSX Co. has a 12 month low of $31.72 and a 12 month high of $40.12. The stock’s 50 day simple moving average is $34.70 and its two-hundred day simple moving average is $34.03. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

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

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 yield of 1.31%. CSX’s payout ratio is 25.81%.

Analysts Set New Price Targets

CSX has been the subject of several recent analyst reports. Benchmark restated a “buy” rating and issued a $40.00 target price on shares of CSX in a research note on Wednesday, August 7th. Loop Capital lowered their price objective on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. BMO Capital Markets reduced their target price on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Susquehanna lowered their price target on CSX from $42.00 to $40.00 and set a “positive” rating for the company in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.