Sollinda Capital Management LLC Acquires New Stake in CSX Co. (NASDAQ:CSX)

Sollinda Capital Management LLC purchased a new stake in shares of CSX Co. (NASDAQ:CSX) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,426 shares of the transportation company’s stock, valued at approximately $222,000.

A number of other institutional investors have also bought and sold shares of the company. Banque Cantonale Vaudoise raised its holdings 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 worth $575,000 after acquiring an additional 10,301 shares during the last quarter. Ascent Group LLC increased its stake in shares of CSX by 559.7% during the 1st quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock worth $2,179,000 after purchasing an additional 49,869 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 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 worth $16,139,000 after purchasing an additional 80,423 shares during the last quarter. PFG Advisors increased its stake in shares of CSX by 2.1% during the 1st quarter. PFG Advisors now owns 18,880 shares of the transportation company’s stock worth $700,000 after purchasing an additional 387 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in CSX by 4.2% in the 1st quarter. Sei Investments Co. now owns 597,426 shares of the transportation company’s stock worth $22,146,000 after buying an additional 23,938 shares during the period. Institutional investors own 73.57% of the company’s stock.

CSX Stock Down 0.7 %

NASDAQ:CSX traded down $0.25 during mid-day trading on Friday, hitting $33.39. 11,062,324 shares of the company’s stock were exchanged, compared to its average volume of 11,638,499. CSX Co. has a one year low of $29.64 and a one year high of $40.12. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The business has a fifty day moving average price of $34.01 and a 200 day moving average price of $33.80. The company has a market cap of $64.39 billion, a PE ratio of 17.95, a P/E/G ratio of 2.11 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 EPS. Equities analysts predict that CSX Co. will post 1.86 EPS for the current year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.44%. CSX’s payout ratio is 25.81%.

Analyst Ratings Changes

Several research firms recently commented on CSX. Bank of America downgraded 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. Citigroup started coverage on shares of CSX in a report on Wednesday, October 9th. They issued a “buy” rating and a $42.00 price target for the company. Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of CSX in a report on Wednesday, August 7th. Royal Bank of Canada dropped their price objective on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Finally, Loop Capital decreased 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. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus price target of $38.61.

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.