Manchester Capital Management LLC Lowers Holdings in CSX Co. (NASDAQ:CSX)

Manchester Capital Management LLC trimmed its position in CSX Co. (NASDAQ:CSX) by 3.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,790 shares of the transportation company’s stock after selling 165 shares during the quarter. Manchester Capital Management LLC’s holdings in CSX were worth $332,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Park National Corp OH boosted its position in CSX by 32.1% in the second quarter. Park National Corp OH now owns 263,452 shares of the transportation company’s stock worth $20,383,000 after purchasing an additional 64,070 shares during the last quarter. Fulton Bank N.A. boosted its position in CSX by 5.1% in the second quarter. Fulton Bank N.A. now owns 3,305 shares of the transportation company’s stock worth $256,000 after purchasing an additional 161 shares during the last quarter. Rockland Trust Co. boosted its position in CSX by 7.2% in the second quarter. Rockland Trust Co. now owns 3,269 shares of the transportation company’s stock worth $253,000 after purchasing an additional 219 shares during the last quarter. DNB Asset Management AS boosted its position in CSX by 2.8% in the second quarter. DNB Asset Management AS now owns 147,122 shares of the transportation company’s stock worth $11,383,000 after purchasing an additional 3,944 shares during the last quarter. Finally, WINTON GROUP Ltd boosted its position in CSX by 156.8% in the second quarter. WINTON GROUP Ltd now owns 645,299 shares of the transportation company’s stock worth $49,927,000 after purchasing an additional 394,056 shares during the last quarter. 77.80% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ CSX traded down $0.05 during trading on Friday, reaching $74.03. The company’s stock had a trading volume of 184,745 shares, compared to its average volume of 5,842,764. The stock has a market capitalization of $57.80 billion, a PE ratio of 19.28, a P/E/G ratio of 1.38 and a beta of 1.22. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.41 and a quick ratio of 1.33. The firm has a fifty day moving average of $69.67 and a 200 day moving average of $72.61. CSX Co. has a one year low of $58.47 and a one year high of $80.73.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, October 16th. The transportation company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.06. The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.98 billion. CSX had a return on equity of 27.67% and a net margin of 27.91%. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 EPS. Research analysts expect that CSX Co. will post 4.18 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.96 dividend on an annualized basis and a yield of 1.30%. CSX’s dividend payout ratio is currently 25.00%.

A number of research analysts have recently commented on the company. Argus set a $82.00 price target on CSX and gave the company a “buy” rating in a research report on Friday, October 18th. Wells Fargo & Co assumed coverage on CSX in a research report on Monday, October 28th. They set a “market perform” rating and a $73.00 price target on the stock. Royal Bank of Canada dropped their price target on CSX to $75.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 17th. Credit Suisse Group upped their price target on CSX from $79.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley dropped their price target on CSX from $56.00 to $55.00 and set an “underweight” rating on the stock in a research report on Monday, October 7th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the company. CSX has an average rating of “Hold” and a consensus price target of $77.98.

In other news, Director Ridge Lp Mantle sold 3,453,894 shares of the stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $67.91, for a total transaction of $234,553,941.54. Following the transaction, the director now directly owns 8,263 shares in the company, valued at approximately $561,140.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven T. Halverson sold 39,812 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $71.65, for a total value of $2,852,529.80. The disclosure for this sale can be found here. 4.83% of the stock is owned by corporate insiders.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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