Signet Investment Advisory Group Inc. Reduces Holdings in CSX Co. (NASDAQ:CSX)

Signet Investment Advisory Group Inc. decreased its holdings in CSX Co. (NASDAQ:CSX) by 2.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,280 shares of the transportation company’s stock after selling 765 shares during the quarter. CSX accounts for about 2.3% of Signet Investment Advisory Group Inc.’s investment portfolio, making the stock its 15th largest position. Signet Investment Advisory Group Inc.’s holdings in CSX were worth $2,236,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Krane Funds Advisors LLC purchased a new position in CSX during the second quarter valued at approximately $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in CSX by 88.5% during the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 426 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. SRS Capital Advisors Inc. purchased a new position in CSX during the second quarter valued at approximately $32,000. Kavar Capital Partners LLC purchased a new position in CSX during the second quarter valued at approximately $35,000. Finally, FNY Investment Advisers LLC purchased a new position in CSX during the second quarter valued at approximately $36,000. 77.82% of the stock is currently owned by institutional investors.

CSX traded down $0.80 during trading hours on Wednesday, hitting $71.95. The company’s stock had a trading volume of 2,473,700 shares, compared to its average volume of 4,908,463. The business’s 50-day moving average price is $70.09 and its 200-day moving average price is $72.47. CSX Co. has a 12 month low of $58.47 and a 12 month high of $80.73. The stock has a market cap of $57.92 billion, a price-to-earnings ratio of 18.74, a P/E/G ratio of 1.38 and a beta of 1.22. The company has a current ratio of 1.41, a quick ratio of 1.33 and a debt-to-equity ratio of 1.35.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, October 16th. The transportation company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.06. CSX had a net margin of 27.91% and a return on equity of 27.67%. The company had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the previous year, the business posted $1.05 earnings per share. CSX’s quarterly revenue was down 4.8% on a year-over-year basis. On average, analysts forecast that CSX Co. will post 4.19 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Wednesday, November 27th. CSX’s dividend payout ratio is presently 25.00%.

In other CSX news, Director Steven T. Halverson sold 39,812 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $71.65, for a total transaction of $2,852,529.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ridge Lp Mantle sold 3,453,894 shares of the business’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $67.91, for a total transaction of $234,553,941.54. Following the transaction, the director now owns 8,263 shares in the company, valued at approximately $561,140.33. The disclosure for this sale can be found here. Insiders own 4.83% of the company’s stock.

Several equities analysts have weighed in on CSX shares. Credit Suisse Group lifted their price target on shares of CSX from $79.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Cowen lifted their price target on shares of CSX from $77.00 to $78.00 and gave the company a “market perform” rating in a report on Thursday, October 17th. Barclays reaffirmed a “buy” rating and set a $85.00 price target on shares of CSX in a report on Thursday, October 3rd. Royal Bank of Canada lowered their target price on shares of CSX to $75.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 17th. Finally, BidaskClub raised shares of CSX from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $77.38.

CSX 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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