Carmichael Hill & Associates Inc. Has $249,000 Stock Position in CSX Co. (NASDAQ:CSX)

Carmichael Hill & Associates Inc. cut its stake in shares of CSX Co. (NASDAQ:CSX) by 6.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,200 shares of the transportation company’s stock after selling 462 shares during the quarter. Carmichael Hill & Associates Inc.’s holdings in CSX were worth $249,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new stake in CSX during the 2nd quarter worth $26,000. MFA Wealth Advisors LLC acquired a new stake in shares of CSX during the second quarter valued at about $27,000. Morton Brown Family Wealth LLC bought a new stake in shares of CSX during the third quarter worth about $31,000. Fairscale Capital LLC acquired a new position in shares of CSX in the second quarter valued at approximately $32,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of CSX in the second quarter valued at approximately $33,000. 73.57% of the stock is currently owned by institutional investors.

CSX Stock Down 0.7 %

CSX stock opened at $33.39 on Friday. The company has a market capitalization of $64.39 billion, a PE ratio of 17.95, a PEG ratio of 2.11 and a beta of 1.19. CSX Co. has a 12-month low of $29.64 and a 12-month high of $40.12. The firm’s fifty day moving average is $34.01 and its 200 day moving average is $33.79. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last announced its quarterly earnings data 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). The company 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%. CSX’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 EPS. As a group, sell-side analysts predict that CSX Co. will post 1.86 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid 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 1.44%. CSX’s dividend payout ratio (DPR) is presently 25.81%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CSX shares. Stephens reduced their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Susquehanna decreased their price objective on CSX from $42.00 to $40.00 and set a “positive” rating for the company in a report on Thursday, October 17th. Stifel Nicolaus lowered their target price on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. BMO Capital Markets reduced their price target on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. lifted their price objective on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.61.

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.