CSX Co. (NASDAQ:CSX) Shares Sold by Huntington National Bank

Huntington National Bank reduced its stake in CSX Co. (NASDAQ:CSX) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 134,146 shares of the transportation company’s stock after selling 2,607 shares during the period. Huntington National Bank’s holdings in CSX were worth $4,632,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Itau Unibanco Holding S.A. acquired a new position in CSX during the second quarter worth about $26,000. MFA Wealth Advisors LLC acquired a new position in shares of CSX in the 2nd quarter worth approximately $27,000. Morton Brown Family Wealth LLC bought a new stake in shares of CSX in the 3rd quarter worth approximately $31,000. Fairscale Capital LLC bought a new stake in shares of CSX in the 2nd quarter worth approximately $32,000. Finally, Strategic Financial Concepts LLC acquired a new stake in CSX during the second quarter valued at approximately $33,000. 73.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CSX. BMO Capital Markets decreased their price target on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Loop Capital decreased their target price on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Evercore ISI reduced their target price on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Citigroup increased their price target on CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Wells Fargo & Company cut their price objective on CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.78.

CSX Trading Down 2.3 %

CSX stock opened at $35.63 on Friday. CSX Co. has a 12 month low of $30.86 and a 12 month high of $40.12. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The stock has a market cap of $68.71 billion, a P/E ratio of 19.16, a P/E/G ratio of 2.29 and a beta of 1.19. The company’s fifty day simple moving average is $34.26 and its 200-day simple moving average is $33.87.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 EPS. As a group, sell-side analysts forecast that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Announces Dividend

The firm also recently announced 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. This represents a $0.48 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 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.