Portfolio Design Labs LLC Cuts Stock Position in CSX Co. (NASDAQ:CSX)

Portfolio Design Labs LLC trimmed its position in CSX Co. (NASDAQ:CSX - Free Report) by 40.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,860 shares of the transportation company's stock after selling 24,895 shares during the quarter. Portfolio Design Labs LLC's holdings in CSX were worth $1,273,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CSX. Banque Cantonale Vaudoise increased its position in CSX by 149.1% during 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 in the last quarter. Ascent Group LLC lifted its stake in shares of CSX by 559.7% in the 1st 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 last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of CSX by 20.8% during 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 acquiring an additional 80,423 shares in the last quarter. Thrivent Financial for Lutherans grew its position in CSX by 0.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company's stock worth $116,521,000 after acquiring an additional 24,430 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in CSX by 3.4% in the third quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company's stock valued at $81,095,000 after purchasing an additional 77,488 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Price Performance

NASDAQ:CSX traded down $0.03 during trading hours on Wednesday, hitting $34.57. 7,939,168 shares of the stock traded hands, compared to its average volume of 11,693,486. The stock has a 50 day moving average price of $34.37 and a 200 day moving average price of $33.92. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The company has a market cap of $66.67 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19. CSX Co. has a 1 year low of $31.65 and a 1 year high of $40.12.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (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 for the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the previous year, the business earned $0.42 EPS. The company's quarterly revenue was up 1.3% on a year-over-year basis. Sell-side analysts forecast that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.39%. CSX's dividend payout ratio is presently 25.81%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on CSX from $39.00 to $42.00 and gave the company an "overweight" rating in a research note on Tuesday, August 6th. Citigroup raised their price target on shares of CSX from $42.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Loop Capital reduced their target price on CSX from $43.00 to $42.00 and set a "buy" rating on the stock in a report on Thursday, October 17th. TD Cowen dropped their price target on shares of CSX from $36.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, October 17th. Finally, Evercore ISI decreased their price objective on shares of CSX from $38.00 to $37.00 and set an "outperform" rating for the company in a research report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $38.78.

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.