Castle Rock Wealth Management LLC Lowers Stock Position in CSX Co. (NASDAQ:CSX)

Castle Rock Wealth Management LLC reduced its stake in CSX Co. (NASDAQ:CSX) by 7.0% during the third quarter, HoldingsChannel reports. The firm owned 6,272 shares of the transportation company’s stock after selling 472 shares during the period. Castle Rock Wealth Management LLC’s holdings in CSX were worth $213,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in CSX by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock valued at $2,418,883,000 after acquiring an additional 443,755 shares during the last quarter. Fisher Asset Management LLC grew its position in CSX by 2.0% during the fourth quarter. Fisher Asset Management LLC now owns 22,340,864 shares of the transportation company’s stock valued at $774,558,000 after acquiring an additional 433,228 shares during the last quarter. Bank of New York Mellon Corp grew its position in 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 valued at $573,128,000 after acquiring an additional 1,060,204 shares during the last quarter. Dimensional Fund Advisors LP grew its position in CSX by 9.3% during the second quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock valued at $415,466,000 after acquiring an additional 1,060,617 shares during the last quarter. Finally, Bank of Montreal Can grew its position in CSX by 38.7% during 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 acquiring an additional 1,884,998 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Performance

Shares of CSX stock opened at $34.96 on Friday. The stock has a fifty day moving average of $33.93 and a 200 day moving average of $34.04. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The firm has a market capitalization of $68.34 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.90 and a beta of 1.19. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. CSX had a return on equity of 29.11% and a net margin of 24.52%. The company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same quarter last year, the firm posted $0.49 earnings per share. The firm’s revenue was up .0% on a year-over-year basis. As a group, research analysts expect that CSX Co. will post 1.93 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. Shareholders of record on Friday, November 29th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio is currently 26.37%.

Analysts Set New Price Targets

A number of brokerages have commented on CSX. Sanford C. Bernstein increased their price target on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Citigroup began coverage on shares of CSX in a research report on Wednesday. They set a “buy” rating and a $42.00 price target on the stock. Evercore ISI upgraded shares of CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. Bank of America cut shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Monday, July 8th. Finally, Stephens restated an “overweight” rating and issued a $42.00 target price on shares of CSX in a report on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.19.

CSX 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.