DRW Securities LLC Sells 53,717 Shares of CSX Co. (NASDAQ:CSX)

DRW Securities LLC lowered its stake in CSX Co. (NASDAQ:CSX - Free Report) by 68.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,535 shares of the transportation company's stock after selling 53,717 shares during the quarter. DRW Securities LLC's holdings in CSX were worth $847,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Avior Wealth Management LLC boosted its position in CSX by 2.5% during the 3rd quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company's stock worth $407,000 after acquiring an additional 293 shares during the last quarter. Western Wealth Management LLC increased its stake in CSX by 0.8% in the 2nd quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company's stock valued at $1,208,000 after buying an additional 295 shares during the last quarter. TriaGen Wealth Management LLC boosted its stake in shares of CSX by 2.7% during the 2nd quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company's stock worth $385,000 after buying an additional 300 shares during the last quarter. Lake Street Advisors Group LLC increased its position in shares of CSX by 1.8% in the third quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company's stock valued at $595,000 after acquiring an additional 306 shares during the last quarter. Finally, J.W. Cole Advisors Inc. raised its holdings in CSX by 0.9% during the third quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company's stock worth $1,222,000 after acquiring an additional 309 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CSX. BMO Capital Markets cut their price target on shares of CSX from $40.00 to $39.00 and set an "outperform" rating for the company in a research note on Thursday, October 17th. Loop Capital reduced their price target on CSX from $43.00 to $42.00 and set a "buy" rating for the company in a report on Thursday, October 17th. 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. Wells Fargo & Company reduced their target price on CSX from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Thursday, October 17th. Finally, Benchmark reissued a "buy" rating and set a $40.00 target price on shares of CSX in a report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $38.78.

CSX Price Performance

Shares of NASDAQ CSX traded up $0.07 during midday trading on Tuesday, reaching $36.69. 9,605,613 shares of the company were exchanged, compared to its average volume of 11,691,422. 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 one year low of $31.65 and a one year high of $40.12. The stock has a market cap of $70.75 billion, a P/E ratio of 19.73, a PEG ratio of 2.27 and a beta of 1.19. The stock's 50-day moving average price is $34.59 and its 200-day moving average price is $33.97.

CSX (NASDAQ:CSX - Get Free Report) last posted its earnings results 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 firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the prior year, the business posted $0.42 earnings per share. CSX's revenue for the quarter was up 1.3% compared to the same quarter last year. On average, sell-side analysts anticipate that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm 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 dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, November 29th. CSX's payout ratio is currently 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.