CSX Co. (NASDAQ:CSX) Stock Position Trimmed by Quest Partners LLC

Quest Partners LLC reduced its position in CSX Co. (NASDAQ:CSX - Free Report) by 46.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,464 shares of the transportation company's stock after selling 36,496 shares during the quarter. Quest Partners LLC's holdings in CSX were worth $1,432,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CSX. Western Wealth Management LLC grew its stake in shares of 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 purchasing an additional 295 shares during the last quarter. TriaGen Wealth Management LLC raised its position in 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 boosted its holdings 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 in the last quarter. 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 purchasing an additional 309 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. lifted its position in CSX by 33.7% in the third quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company's stock valued at $43,000 after purchasing an additional 316 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Barclays raised their price objective on CSX from $40.00 to $41.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. Evercore ISI lowered their price objective on shares of CSX from $38.00 to $37.00 and set an "outperform" rating on the stock in a research note on Thursday, October 17th. 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 report on Thursday, October 17th. TD Cowen lowered 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, BMO Capital Markets cut their price objective on CSX from $40.00 to $39.00 and set an "outperform" rating for the company in a research report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $38.78.

CSX Stock Down 0.1 %

NASDAQ CSX traded down $0.03 on Wednesday, reaching $34.57. The company had a trading volume of 7,937,700 shares, compared to its average volume of 11,693,486. The firm has a market capitalization of $66.67 billion, a PE ratio of 18.60, a P/E/G 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. The firm has a 50-day moving average of $34.37 and a 200-day moving average of $33.92. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period in the previous year, the company earned $0.42 earnings per share. The business's revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities research analysts anticipate that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

The company 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 dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Friday, November 29th. CSX's dividend payout ratio is currently 25.81%.

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.