Main Street Financial Solutions LLC Sells 707 Shares of CSX Co. (NASDAQ:CSX)

by · The Cerbat Gem

Main Street Financial Solutions LLC trimmed its holdings in shares of CSX Co. (NASDAQ:CSX – Free Report) by 2.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,755 shares of the transportation company’s stock after selling 707 shares during the quarter. Main Street Financial Solutions LLC’s holdings in CSX were worth $820,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise grew its position in shares of CSX by 149.1% in the 2nd quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock valued at $575,000 after buying an additional 10,301 shares during the last quarter. Ascent Group LLC boosted its holdings in CSX by 559.7% in the first 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. increased its position in 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 purchasing an additional 80,423 shares during the period. Principal Financial Group Inc. increased its position in CSX by 3.4% during the 3rd 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 period. Finally, Sei Investments Co. raised its holdings in CSX by 4.2% during the 1st quarter. Sei Investments Co. now owns 597,426 shares of the transportation company’s stock worth $22,146,000 after purchasing an additional 23,938 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CSX. Susquehanna decreased their price objective on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research report on Thursday, October 17th. Wells Fargo & Company decreased their price target on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Citigroup upped their target price on CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday. Loop Capital dropped their target price on shares of CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Finally, BMO Capital Markets cut their price target on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.78.

View Our Latest Research Report on CSX

CSX Price Performance

NASDAQ CSX opened at $36.48 on Thursday. The firm’s 50-day simple moving average is $34.22 and its two-hundred day simple moving average is $33.85. The company has a market cap of $70.35 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 2.29 and a beta of 1.19. CSX Co. has a 52 week low of $30.86 and a 52 week high of $40.12. 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 (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). The business had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. CSX’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 earnings per share. Research analysts predict that CSX Co. will post 1.84 earnings per share for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid 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 1.32%. CSX’s dividend payout ratio is presently 25.81%.

CSX Company Profile

(Free Report)

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.

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