Mutual of America Capital Management LLC Cuts Stake in CSX Co. (NASDAQ:CSX)

Mutual of America Capital Management LLC lessened its holdings in shares of CSX Co. (NASDAQ:CSX) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 238,776 shares of the transportation company’s stock after selling 7,863 shares during the period. Mutual of America Capital Management LLC’s holdings in CSX were worth $8,245,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CSX. Western Wealth Management LLC increased its position in 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 buying an additional 295 shares in the last quarter. TriaGen Wealth Management LLC increased its holdings in shares of CSX by 2.7% during the second 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 position in shares of CSX by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock valued at $595,000 after purchasing an additional 306 shares during the last quarter. J.W. Cole Advisors Inc. boosted its stake in CSX by 0.9% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock worth $1,222,000 after purchasing an additional 309 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. grew its position in CSX by 33.7% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company’s stock worth $43,000 after purchasing an additional 316 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CSX shares. Susquehanna lowered their price objective on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Thursday, October 17th. Stifel Nicolaus dropped their price target on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Benchmark reiterated a “buy” rating and set a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. Royal Bank of Canada dropped their price target on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. boosted their price target on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.78.

CSX Stock Performance

Shares of CSX stock opened at $34.97 on Tuesday. The company has a market capitalization of $67.44 billion, a P/E ratio of 18.80, a P/E/G ratio of 2.23 and a beta of 1.19. The business’s 50 day moving average is $34.35 and its two-hundred day moving average is $33.91. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a 12-month low of $31.44 and a 12-month high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 EPS. Analysts expect that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Announces Dividend

The firm 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.37%. CSX’s dividend payout ratio is currently 25.81%.

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.