Prime Capital Investment Advisors LLC Reduces Stock Position in CSX Co. (NASDAQ:CSX)

Prime Capital Investment Advisors LLC reduced its position in CSX Co. (NASDAQ:CSX - Free Report) by 21.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,543 shares of the transportation company's stock after selling 19,313 shares during the period. Prime Capital Investment Advisors LLC's holdings in CSX were worth $2,505,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Itau Unibanco Holding S.A. purchased a new stake in CSX in the second quarter worth about $26,000. MFA Wealth Advisors LLC bought a new stake in shares of CSX in the second quarter valued at about $27,000. Morton Brown Family Wealth LLC purchased a new position in shares of CSX in the third quarter worth $31,000. Fairscale Capital LLC acquired a new position in shares of CSX in the second quarter valued at about $32,000. Finally, Strategic Financial Concepts LLC acquired a new stake in CSX during the 2nd quarter worth about $33,000. Institutional investors own 73.57% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CSX shares. Royal Bank of Canada reduced their price target on CSX from $36.00 to $35.00 and set a "sector perform" rating for the company in a report on Thursday, October 17th. BMO Capital Markets lowered their price objective on CSX from $40.00 to $39.00 and set an "outperform" rating on the stock in a research note on Thursday, October 17th. Loop Capital decreased their price objective on CSX from $43.00 to $42.00 and set a "buy" rating on the stock in a report on Thursday, October 17th. Stifel Nicolaus decreased their price objective on CSX from $39.00 to $37.00 and set a "buy" rating on the stock in a report on Thursday, October 17th. Finally, Susquehanna decreased their price objective on CSX from $42.00 to $40.00 and set a "positive" rating on the stock in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, CSX currently has an average rating of "Moderate Buy" and a consensus target price of $38.78.

CSX Stock Performance

Shares of CSX stock traded down $0.89 during mid-day trading on Thursday, hitting $35.59. 8,329,717 shares of the stock were exchanged, compared to its average volume of 11,709,383. The stock's fifty day simple moving average is $34.26 and its two-hundred day simple moving average is $33.87. The stock has a market capitalization of $68.63 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 2.29 and a beta of 1.19. CSX Co. has a 12-month low of $30.86 and a 12-month high of $40.12. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39.

CSX (NASDAQ:CSX - Get Free Report) last issued 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 return on equity of 28.92% and a net margin of 24.77%. The firm had revenue of $3.62 billion for the quarter, compared to analysts' expectations of $3.68 billion. During the same period in the previous year, the business posted $0.42 EPS. The business's revenue for the quarter was up 1.3% compared to the same quarter last year. On average, analysts forecast that CSX Co. will post 1.84 EPS for the current year.

CSX Announces Dividend

The firm 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.35%. CSX's dividend payout ratio (DPR) is 25.81%.

CSX 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.