CSX Co. (NASDAQ:CSX) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC lessened its stake in CSX Co. (NASDAQ:CSX) by 4.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,411 shares of the transportation company’s stock after selling 2,496 shares during the period. Kingsview Wealth Management LLC’s holdings in CSX were worth $1,810,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CSX. Interval Partners LP raised its position in CSX by 849.0% in the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after acquiring an additional 4,579,344 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of CSX in the second quarter valued at about $116,430,000. Assenagon Asset Management S.A. boosted its holdings in CSX by 318.5% during the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock worth $112,946,000 after buying an additional 2,489,329 shares in the last quarter. Wulff Hansen & CO. grew its position in CSX by 3,243.0% during the second quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock worth $73,331,000 after buying an additional 2,126,668 shares during the period. Finally, Bank of Montreal Can increased its holdings in CSX by 38.7% in the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock valued at $225,917,000 after buying an additional 1,884,998 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Wells Fargo & Company dropped their price target on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Evercore ISI decreased their price objective 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. Citigroup raised their target price on shares of CSX from $42.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Stifel Nicolaus reduced their price target on shares of CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.78.

CSX Price Performance

CSX stock opened at $36.62 on Tuesday. 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 company has a market cap of $70.62 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 2.27 and a beta of 1.19. CSX Co. has a 1 year low of $31.65 and a 1 year high of $40.12. The firm has a 50 day moving average price of $34.53 and a 200 day moving average price of $33.96.

CSX (NASDAQ:CSX) last released its quarterly earnings data 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 firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the previous year, the company earned $0.42 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis. Sell-side analysts predict that CSX Co. will post 1.84 earnings per share for the current year.

CSX Announces Dividend

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

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.