Brooklyn Investment Group Sells 548 Shares of CSX Co. (NASDAQ:CSX)

Brooklyn Investment Group trimmed its stake in shares of CSX Co. (NASDAQ:CSX) by 4.9% in the third quarter, Holdings Channel.com reports. The fund owned 10,651 shares of the transportation company’s stock after selling 548 shares during the quarter. Brooklyn Investment Group’s holdings in CSX were worth $368,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Fisher Asset Management LLC raised its position in shares of CSX by 3.6% during the third quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock worth $851,404,000 after acquiring an additional 857,302 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of CSX by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock worth $573,128,000 after acquiring an additional 1,060,204 shares during the last quarter. FMR LLC raised its position in shares of CSX by 10.2% during the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after acquiring an additional 1,447,651 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of CSX by 9.3% during the second quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock worth $415,466,000 after acquiring an additional 1,060,617 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in CSX by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,592,143 shares of the transportation company’s stock worth $400,277,000 after purchasing an additional 51,597 shares during the period. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Loop Capital decreased their target price on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Wells Fargo & Company decreased their target price on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. Benchmark reaffirmed a “buy” rating and set a $40.00 target price on shares of CSX in a research note on Wednesday, August 7th. Citigroup raised their target price on CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Stephens decreased their target price on CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research note 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $38.78.

CSX Stock Performance

Shares of CSX opened at $36.69 on Wednesday. The firm has a market cap of $70.75 billion, a PE ratio of 19.73, a PEG ratio of 2.32 and a beta of 1.19. The stock’s fifty day moving average price is $34.59 and its two-hundred day moving average price is $33.97. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. CSX Co. has a 1 year low of $31.65 and a 1 year high of $40.12.

CSX (NASDAQ:CSX) last issued its earnings results 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 firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 earnings per share. On average, equities research analysts forecast that CSX Co. will post 1.84 EPS for the current year.

CSX Announces Dividend

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

CSX Company 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.