Bank of Hawaii Sells 1,755 Shares of CSX Co. (NASDAQ:CSX)

Bank of Hawaii cut its stake in shares of CSX Co. (NASDAQ:CSX) by 16.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,655 shares of the transportation company’s stock after selling 1,755 shares during the quarter. Bank of Hawaii’s holdings in CSX were worth $299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in CSX in the second quarter worth $26,000. Valley Wealth Managers Inc. lifted its stake in CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after purchasing an additional 480 shares during the last quarter. MFA Wealth Advisors LLC purchased a new position in shares of CSX in the 2nd quarter worth about $27,000. Morton Brown Family Wealth LLC bought a new position in shares of CSX during the 3rd quarter valued at about $31,000. Finally, Fairscale Capital LLC purchased a new position in shares of CSX during the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX stock opened at $36.62 on Tuesday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. CSX Co. has a fifty-two week low of $31.65 and a fifty-two week high of $40.12. The firm has a market cap of $70.62 billion, a P/E ratio of 19.69, a P/E/G ratio of 2.27 and a beta of 1.19. The business’s 50 day moving average price is $34.53 and its 200-day moving average price is $33.96.

CSX (NASDAQ:CSX) last released 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). The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 EPS. On average, equities research analysts anticipate that CSX Co. will post 1.84 earnings per share for the current year.

CSX Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s payout ratio is 25.81%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Susquehanna cut their target price on CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Thursday, October 17th. Loop Capital cut their price objective 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. Royal Bank of Canada reduced their target price on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Thursday, October 17th. Barclays boosted their price target on shares of CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Stephens cut their price target on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.78.

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.