Duff & Phelps Investment Management Co. Reduces Position in CSX Co. (NASDAQ:CSX)

Duff & Phelps Investment Management Co. decreased its stake in CSX Co. (NASDAQ:CSX - Free Report) by 28.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 362,113 shares of the transportation company's stock after selling 142,917 shares during the period. Duff & Phelps Investment Management Co.'s holdings in CSX were worth $12,504,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Continuum Advisory LLC lifted its stake in shares of CSX by 6.1% during the 3rd quarter. Continuum Advisory LLC now owns 25,259 shares of the transportation company's stock worth $900,000 after purchasing an additional 1,449 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in CSX by 6.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company's stock worth $22,549,000 after buying an additional 41,547 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of CSX during the 3rd quarter valued at about $2,024,000. Zacks Investment Management boosted its holdings in shares of CSX by 3.6% during the third quarter. Zacks Investment Management now owns 1,767,859 shares of the transportation company's stock valued at $61,044,000 after acquiring an additional 61,686 shares during the period. Finally, National Bank of Canada FI raised its stake in CSX by 79.7% during the 3rd quarter. National Bank of Canada FI now owns 1,585,841 shares of the transportation company's stock valued at $54,759,000 after acquiring an additional 703,391 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CSX. Loop Capital cut their target price on shares of CSX from $43.00 to $42.00 and set a "buy" rating for the company in a research note on Thursday, October 17th. Wells Fargo & Company cut their price target 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. Stephens cut their target price on CSX from $41.00 to $39.00 and set an "overweight" rating on the stock in a report on Thursday, October 17th. Royal Bank of Canada decreased their price objective on shares of CSX from $36.00 to $35.00 and set a "sector perform" rating for the company in a report on Thursday, October 17th. Finally, Stifel Nicolaus dropped their target price on shares of CSX from $39.00 to $37.00 and set a "buy" rating on the stock in a research report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.78.

CSX Stock Performance

CSX stock traded down $0.48 during midday trading on Monday, hitting $33.97. 10,630,168 shares of the company were exchanged, compared to its average volume of 11,655,554. CSX Co. has a fifty-two week low of $31.74 and a fifty-two week 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. The business has a fifty day simple moving average of $34.84 and a two-hundred day simple moving average of $34.09. The firm has a market capitalization of $65.51 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20.

CSX (NASDAQ:CSX - Get Free Report) last posted 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 period in the prior year, the business posted $0.42 earnings per share. The business's quarterly revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts forecast that CSX Co. will post 1.84 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. 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.