Sheaff Brock Investment Advisors LLC Has $1.09 Million Stake in CSX Co. (NASDAQ:CSX)

Sheaff Brock Investment Advisors LLC trimmed its holdings in CSX Co. (NASDAQ:CSX) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,554 shares of the transportation company’s stock after selling 1,200 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in CSX were worth $1,090,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CSX. Price T Rowe Associates Inc. MD raised 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 purchasing an additional 443,755 shares in the last quarter. Bank of New York Mellon Corp raised 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 purchasing an additional 1,060,204 shares in the last quarter. Dimensional Fund Advisors LP raised 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 purchasing an additional 1,060,617 shares in the last quarter. Bank of Montreal Can raised 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 purchasing an additional 1,884,998 shares in the last quarter. Finally, Interval Partners LP raised its position in CSX by 849.0% during the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock valued at $171,222,000 after purchasing an additional 4,579,344 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CSX shares. JPMorgan Chase & Co. upped their price target on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Stephens lowered their price target on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Evercore ISI lowered their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. 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 report on Thursday, October 17th. Finally, Royal Bank of Canada lowered their price target on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average target price of $38.78.

CSX Stock Performance

Shares of CSX opened at $35.13 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $67.75 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 2.32 and a beta of 1.19. The firm’s fifty day simple moving average is $34.32 and its two-hundred day simple moving average is $33.89. CSX Co. has a 12 month low of $30.86 and a 12 month high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly 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 for 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 revenue was up 1.3% compared to the same quarter last year. During the same period last year, the company posted $0.42 EPS. As a group, analysts predict that CSX Co. will post 1.84 EPS for the current year.

CSX Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.37%. CSX’s dividend payout ratio (DPR) 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.