Atom Investors LP Reduces Position in CSX Co. (NASDAQ:CSX)

Atom Investors LP decreased its holdings in shares of CSX Co. (NASDAQ:CSX) by 62.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,535 shares of the transportation company’s stock after selling 170,721 shares during the period. Atom Investors LP’s holdings in CSX were worth $3,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of CSX. Cetera Investment Advisers boosted its position in shares of CSX by 239.9% in the first quarter. Cetera Investment Advisers now owns 361,668 shares of the transportation company’s stock worth $13,407,000 after purchasing an additional 255,271 shares during the period. Cetera Advisors LLC increased its stake in CSX by 59.1% in the 1st quarter. Cetera Advisors LLC now owns 108,265 shares of the transportation company’s stock worth $4,013,000 after buying an additional 40,201 shares in the last quarter. GAMMA Investing LLC raised its holdings in CSX by 18.7% during the second quarter. GAMMA Investing LLC now owns 18,576 shares of the transportation company’s stock valued at $621,000 after acquiring an additional 2,926 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in shares of CSX by 4.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 23,793 shares of the transportation company’s stock valued at $796,000 after acquiring an additional 973 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of CSX in the second quarter valued at about $75,000. 73.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CSX. Royal Bank of Canada decreased their target price on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. Evercore ISI lowered their target price on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. JPMorgan Chase & Co. raised their target price on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Barclays boosted their price target on shares of CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Loop Capital cut their price objective on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $38.78.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $36.55 on Monday. 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 company has a market capitalization of $70.48 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 2.32 and a beta of 1.19. CSX Co. has a 12 month low of $31.72 and a 12 month high of $40.12. The firm’s 50-day moving average is $34.70 and its 200 day moving average is $34.03.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. Research analysts predict that CSX Co. will post 1.84 EPS for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio is currently 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.