CSX Co. (NASDAQ:CSX) Shares Sold by Mill Creek Capital Advisors LLC

Mill Creek Capital Advisors LLC lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 48.5% in the third quarter, Holdings Channel reports. The institutional investor owned 9,839 shares of the transportation company’s stock after selling 9,271 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in CSX were worth $340,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in CSX by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock worth $2,418,883,000 after purchasing an additional 443,755 shares during the period. Bank of New York Mellon Corp boosted its holdings in CSX by 6.6% in the second quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock worth $573,128,000 after purchasing an additional 1,060,204 shares during the period. Dimensional Fund Advisors LP boosted its holdings in CSX by 9.3% in the second quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock worth $415,466,000 after purchasing an additional 1,060,617 shares during the period. Bank of Montreal Can boosted its holdings in CSX by 38.7% in the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock worth $225,917,000 after purchasing an additional 1,884,998 shares during the period. Finally, Interval Partners LP boosted its holdings in CSX by 849.0% in the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after purchasing an additional 4,579,344 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX stock opened at $35.13 on Monday. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The company’s 50-day moving average price is $34.32 and its two-hundred day moving average price is $33.90. CSX Co. has a 52 week low of $30.86 and a 52 week high of $40.12. The stock has a market cap of $67.75 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its quarterly 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 business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter last year, the firm posted $0.42 earnings per share. CSX’s revenue was up 1.3% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 25.81%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CSX shares. JPMorgan Chase & Co. lifted their price objective on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Citigroup boosted their price target on shares of CSX from $42.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Stephens reduced their price target on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Wells Fargo & Company reduced their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Finally, Stifel Nicolaus reduced their price target on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, CSX presently has a consensus 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.