Citizens Financial Group Inc. RI Reduces Stock Holdings in CSX Co. (NASDAQ:CSX)

Citizens Financial Group Inc. RI lessened its position in shares of CSX Co. (NASDAQ:CSX) by 6.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 32,997 shares of the transportation company’s stock after selling 2,192 shares during the period. Citizens Financial Group Inc. RI’s holdings in CSX were worth $1,139,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Avior Wealth Management LLC lifted its position in shares of CSX by 2.5% in the third quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock worth $407,000 after purchasing an additional 293 shares in the last quarter. Western Wealth Management LLC grew its holdings in shares of CSX by 0.8% during the 2nd quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock valued at $1,208,000 after acquiring an additional 295 shares in the last quarter. TriaGen Wealth Management LLC grew its holdings 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 valued at $385,000 after acquiring an additional 300 shares in the last quarter. Lake Street Advisors Group LLC raised its holdings in shares of CSX by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock worth $595,000 after acquiring an additional 306 shares in the last quarter. Finally, J.W. Cole Advisors Inc. boosted its position 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 valued at $1,222,000 after purchasing an additional 309 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Trading Up 1.2 %

CSX stock opened at $35.78 on Friday. The business has a 50 day moving average price of $34.48 and a two-hundred day moving average price of $33.94. 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 12 month low of $31.65 and a 12 month high of $40.12. The stock has a market cap of $69.00 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 2.20 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued 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 return on equity of 28.92% and a net margin of 24.77%. The firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the business earned $0.42 earnings per share. As a group, equities 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 given a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.34%. CSX’s dividend payout ratio (DPR) is currently 25.81%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Stephens cut their price objective on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Wells Fargo & Company lowered their target price on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Loop Capital lowered 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. Barclays boosted their target price on CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Benchmark reiterated a “buy” rating and set a $40.00 price target on shares of CSX in a report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and an average price target of $38.78.

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.