Mutual of America Capital Management LLC Lowers Stock Holdings in CSX Co. (NASDAQ:CSX)

Mutual of America Capital Management LLC decreased its position in shares of CSX Co. (NASDAQ:CSX) by 3.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 238,776 shares of the transportation company’s stock after selling 7,863 shares during the quarter. Mutual of America Capital Management LLC’s holdings in CSX were worth $8,245,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Western Wealth Management LLC lifted its stake in CSX by 0.8% in the 2nd quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock worth $1,208,000 after purchasing an additional 295 shares in the last quarter. TriaGen Wealth Management LLC lifted its stake in CSX by 2.7% in the 2nd quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock worth $385,000 after purchasing an additional 300 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in CSX by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock worth $595,000 after purchasing an additional 306 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in CSX by 0.9% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock worth $1,222,000 after purchasing an additional 309 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. lifted its stake in CSX by 33.7% in the 3rd quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company’s stock worth $43,000 after purchasing an additional 316 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

CSX has been the topic of a number of research reports. BMO Capital Markets reduced their target price on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Barclays boosted their target price on shares of CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Loop Capital reduced their target price on shares of CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Evercore ISI reduced their target price on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, Benchmark restated a “buy” rating and issued a $40.00 target price on shares of CSX in a report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $38.78.

CSX Price Performance

Shares of CSX stock opened at $34.97 on Tuesday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The company has a market capitalization of $67.44 billion, a P/E ratio of 18.80, a P/E/G ratio of 2.23 and a beta of 1.19. The company’s 50-day simple moving average is $34.35 and its two-hundred day simple moving average is $33.91. CSX Co. has a one year low of $31.44 and a one year high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. CSX’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 EPS. As a group, equities analysts anticipate that CSX Co. will post 1.84 EPS for the current year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is 25.81%.

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.