Bfsg LLC Sells 8,486 Shares of CSX Co. (NASDAQ:CSX)

Bfsg LLC reduced its stake in CSX Co. (NASDAQ:CSX) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 305,533 shares of the transportation company’s stock after selling 8,486 shares during the period. CSX makes up 1.2% of Bfsg LLC’s portfolio, making the stock its 13th largest holding. Bfsg LLC’s holdings in CSX were worth $10,550,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Itau Unibanco Holding S.A. bought a new stake in shares of CSX in the second quarter worth about $26,000. MFA Wealth Advisors LLC purchased a new position in CSX during the 2nd quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. purchased a new position in CSX during the 1st quarter valued at approximately $29,000. Fairscale Capital LLC bought a new stake in CSX in the 2nd quarter worth approximately $32,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of CSX during the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $35.47 on Thursday. The firm has a 50 day moving average of $34.05 and a 200 day moving average of $33.99. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $69.34 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same period in the previous year, the company posted $0.49 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. On average, sell-side analysts predict that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 1.35%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is 26.37%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Citigroup started coverage on shares of CSX in a research report on Wednesday, October 9th. They set a “buy” rating and a $42.00 price objective for the company. Sanford C. Bernstein raised their price objective on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of CSX in a research report on Tuesday, August 6th. Susquehanna upped their price target on shares of CSX from $41.00 to $42.00 and gave the stock a “positive” rating in a report on Wednesday, October 2nd. Finally, Bank of America lowered shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Monday, July 8th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and an average price target of $39.19.

CSX Company 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.