Chapin Davis Inc. Has $1.93 Million Stake in CSX Co. (NASDAQ:CSX)

Chapin Davis Inc. lowered its stake in CSX Co. (NASDAQ:CSX) by 8.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,803 shares of the transportation company’s stock after selling 5,082 shares during the period. Chapin Davis Inc.’s holdings in CSX were worth $1,927,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Banque Cantonale Vaudoise lifted its holdings in CSX by 149.1% in the second quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock valued at $575,000 after buying an additional 10,301 shares during the period. Ascent Group LLC lifted its stake in shares of CSX by 559.7% in the 1st quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock valued at $2,179,000 after purchasing an additional 49,869 shares during the period. PFG Advisors boosted its position in shares of CSX by 2.1% in 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. Sei Investments Co. grew its stake in shares of CSX by 4.2% during the first quarter. Sei Investments Co. now owns 597,426 shares of the transportation company’s stock worth $22,146,000 after purchasing an additional 23,938 shares during the period. Finally, William B. Walkup & Associates Inc. bought a new stake in CSX in the second quarter valued at about $867,000. Institutional investors own 73.57% of the company’s stock.

CSX Stock Down 2.4 %

Shares of CSX stock opened at $33.65 on Tuesday. The firm has a market cap of $65.78 billion, a PE ratio of 18.49, a P/E/G ratio of 1.91 and a beta of 1.19. The business’s 50 day simple moving average is $33.97 and its 200 day simple moving average is $34.10. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12.

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

CSX Dividend Announcement

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 $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s payout ratio is 26.37%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CSX. Barclays reduced their target price on CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Bank of America cut 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. Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of CSX in a report on Wednesday, August 7th. BMO Capital Markets reissued an “outperform” rating and issued a $40.00 price target on shares of CSX in a report on Tuesday, August 6th. Finally, Stephens reaffirmed an “overweight” rating and set a $42.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

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.