City Holding Co. Sells 2,994 Shares of CSX Co. (NASDAQ:CSX)

City Holding Co. decreased its stake in shares of CSX Co. (NASDAQ:CSX) by 5.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 51,817 shares of the transportation company’s stock after selling 2,994 shares during the quarter. City Holding Co.’s holdings in CSX were worth $1,789,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Sanford C. Bernstein lifted 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. Barclays dropped their price target on CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. BMO Capital Markets restated an “outperform” rating and set a $40.00 price objective on shares of CSX in a research report on Tuesday, August 6th. Evercore ISI upgraded CSX to a “strong-buy” rating in a report on Tuesday, August 6th. Finally, Benchmark restated a “buy” rating and set a $40.00 price target on shares of CSX in a report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

CSX Stock Performance

CSX stock opened at $33.87 on Wednesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. The company has a market capitalization of $66.21 billion, a PE ratio of 18.61, a P/E/G ratio of 1.91 and a beta of 1.19. The company has a 50 day moving average price of $33.96 and a 200-day moving average price of $34.07. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX) last posted its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. CSX had a return on equity of 29.11% and a net margin of 24.52%. The company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the prior year, the business earned $0.49 earnings per share. CSX’s revenue was up .0% on a year-over-year basis. As a group, equities analysts forecast that CSX Co. will post 1.93 earnings per share for the current 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 issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio is currently 26.37%.

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.