Chevy Chase Trust Holdings LLC Sells 28,192 Shares of CSX Co. (NASDAQ:CSX)

Chevy Chase Trust Holdings LLC reduced its stake in CSX Co. (NASDAQ:CSX - Free Report) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,094,325 shares of the transportation company's stock after selling 28,192 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.06% of CSX worth $37,787,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise raised its position in shares of CSX by 149.1% during the second quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company's stock valued at $575,000 after buying an additional 10,301 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 valued at $16,139,000 after buying an additional 80,423 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of CSX by 0.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company's stock worth $116,521,000 after purchasing an additional 24,430 shares during the last quarter. Principal Financial Group Inc. grew its stake in CSX by 3.4% during the third quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company's stock worth $81,095,000 after buying an additional 77,488 shares during the last quarter. Finally, William B. Walkup & Associates Inc. acquired a new stake in shares of CSX during the second quarter worth approximately $867,000. Institutional investors and hedge funds own 73.57% of the company's stock.

CSX Price Performance

Shares of CSX stock traded down $0.32 during trading hours on Tuesday, reaching $36.02. The company's stock had a trading volume of 4,609,889 shares, compared to its average volume of 11,611,224. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. CSX Co. has a fifty-two week low of $31.74 and a fifty-two week high of $40.12. The company has a market capitalization of $69.46 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.32 and a beta of 1.20. The firm's 50 day simple moving average is $34.70 and its 200-day simple moving average is $34.03.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the previous year, the company earned $0.42 EPS. CSX's revenue for the quarter was up 1.3% on a year-over-year basis. Sell-side analysts forecast that CSX Co. will post 1.84 earnings per share for the current year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.33%. CSX's payout ratio is 25.81%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CSX. Wells Fargo & Company reduced their price objective on shares of CSX from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 17th. Benchmark reaffirmed a "buy" rating and set a $40.00 price objective on shares of CSX in a research note on Wednesday, August 7th. Stifel Nicolaus decreased their price objective on CSX from $39.00 to $37.00 and set a "buy" rating for the company in a research report on Thursday, October 17th. Loop Capital cut their price target on CSX from $43.00 to $42.00 and set a "buy" rating on the stock in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. boosted their price target on shares of CSX from $39.00 to $42.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $38.78.

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.