CSX Co. (NASDAQ:CSX) Shares Sold by New England Asset Management Inc.

New England Asset Management Inc. trimmed its stake in shares of CSX Co. (NASDAQ:CSX) by 6.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,460 shares of the transportation company’s stock after selling 4,040 shares during the quarter. New England Asset Management Inc.’s holdings in CSX were worth $1,984,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Western Wealth Management LLC lifted its stake in CSX by 0.8% during the second quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock worth $1,208,000 after purchasing an additional 295 shares during the last quarter. TriaGen Wealth Management LLC raised its holdings in shares of CSX by 2.7% during the second quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock worth $385,000 after purchasing an additional 300 shares during the period. Lake Street Advisors Group LLC lifted its position in shares of CSX by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock worth $595,000 after buying an additional 306 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in shares of CSX by 0.9% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock valued at $1,222,000 after buying an additional 309 shares during the period. Finally, Jamison Private Wealth Management Inc. grew its position in shares of CSX by 33.7% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company’s stock valued at $43,000 after buying an additional 316 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CSX has been the topic of a number of recent research reports. Citigroup raised their target price on shares of CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Royal Bank of Canada reduced their price objective on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Stifel Nicolaus lowered their price objective on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Wells Fargo & Company cut their target price on CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 17th. Finally, BMO Capital Markets lowered their price target on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company 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 MarketBeat, CSX has a consensus rating of “Moderate Buy” and a consensus target price of $38.78.

CSX Stock Performance

CSX opened at $34.97 on Tuesday. The business has a 50 day moving average price of $34.35 and a two-hundred day moving average price of $33.91. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The company has a market capitalization of $67.44 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19. CSX Co. has a 1-year low of $31.44 and a 1-year high of $40.12.

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 firm had revenue of $3.62 billion during 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 company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 EPS. Research analysts predict that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

The firm 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. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.37%. 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.