CSX Co. (NASDAQ:CSX) Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. lessened its holdings in CSX Co. (NASDAQ:CSX) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,219 shares of the transportation company’s stock after selling 392 shares during the quarter. Confluence Wealth Services Inc.’s holdings in CSX were worth $1,009,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise lifted its holdings in shares of CSX by 149.1% in the 2nd quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock worth $575,000 after purchasing an additional 10,301 shares during the last quarter. Ascent Group LLC boosted its holdings in shares of CSX by 559.7% during the first quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock valued at $2,179,000 after acquiring an additional 49,869 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of CSX by 20.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock worth $16,139,000 after acquiring an additional 80,423 shares during the period. PFG Advisors lifted its position in CSX by 2.1% in the 1st quarter. PFG Advisors now owns 18,880 shares of the transportation company’s stock valued at $700,000 after purchasing an additional 387 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in CSX by 4.2% during the 1st quarter. Sei Investments Co. now owns 597,426 shares of the transportation company’s stock valued at $22,146,000 after purchasing an additional 23,938 shares during the period. Institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CSX. Susquehanna cut their price target on CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Thursday, October 17th. Sanford C. Bernstein boosted their price target on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Stifel Nicolaus lowered their price target on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Citigroup initiated coverage on shares of CSX in a research note on Wednesday, October 9th. They set a “buy” rating and a $42.00 price objective on the stock. Finally, Benchmark reissued a “buy” rating and set a $40.00 target price on shares of CSX in a research note on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.61.

CSX Price Performance

CSX stock opened at $33.39 on Monday. CSX Co. has a one year low of $29.64 and a one year high of $40.12. The firm has a 50-day moving average of $34.01 and a two-hundred day moving average of $33.79. The firm has a market capitalization of $64.39 billion, a PE ratio of 17.95, a P/E/G ratio of 2.12 and a beta of 1.19. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter last year, the company posted $0.42 EPS. The firm’s revenue was up 1.3% compared to the same quarter last year. On average, analysts forecast that CSX Co. will post 1.86 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.44%. CSX’s dividend payout ratio is 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.