M&R Capital Management Inc. Sells 1,223 Shares of CSX Co. (NASDAQ:CSX)

M&R Capital Management Inc. trimmed its holdings in CSX Co. (NASDAQ:CSX) by 3.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 39,667 shares of the transportation company’s stock after selling 1,223 shares during the quarter. M&R Capital Management Inc.’s holdings in CSX were worth $3,080,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital World Investors increased its stake in shares of CSX by 6.8% in the first quarter. Capital World Investors now owns 60,681,919 shares of the transportation company’s stock worth $3,477,077,000 after buying an additional 3,886,502 shares during the period. BlackRock Inc. increased its stake in shares of CSX by 7.9% in the second quarter. BlackRock Inc. now owns 50,729,513 shares of the transportation company’s stock worth $3,537,875,000 after buying an additional 3,731,213 shares during the period. Capital International Investors increased its stake in shares of CSX by 26.7% in the first quarter. Capital International Investors now owns 20,891,017 shares of the transportation company’s stock worth $1,197,057,000 after buying an additional 4,400,639 shares during the period. Bank of New York Mellon Corp increased its stake in shares of CSX by 14.2% in the second quarter. Bank of New York Mellon Corp now owns 9,700,050 shares of the transportation company’s stock worth $676,483,000 after buying an additional 1,208,281 shares during the period. Finally, Invesco Ltd. increased its stake in shares of CSX by 13.9% in the first quarter. Invesco Ltd. now owns 7,252,680 shares of the transportation company’s stock worth $415,580,000 after buying an additional 885,854 shares during the period. Hedge funds and other institutional investors own 73.51% of the company’s stock.

In other news, Director John J. Zillmer sold 20,500 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $72.13, for a total transaction of $1,478,665.00. Following the completion of the sale, the director now owns 152,539 shares of the company’s stock, valued at approximately $11,002,638.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nathan D. Goldman sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $75.54, for a total transaction of $1,888,500.00. Following the sale, the executive vice president now directly owns 100,174 shares of the company’s stock, valued at approximately $7,567,143.96. The disclosure for this sale can be found here. Insiders have sold a total of 82,336 shares of company stock worth $6,140,916 in the last 90 days. Company insiders own 0.58% of the company’s stock.

Several research analysts recently commented on the stock. Goldman Sachs Group lifted their target price on shares of CSX from $80.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, September 1st. Stephens raised shares of CSX from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $72.00 to $93.00 in a research report on Monday, August 31st. BidaskClub raised shares of CSX from a “hold” rating to a “buy” rating in a research report on Friday, September 11th. Credit Suisse Group boosted their price objective on shares of CSX from $78.00 to $83.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. They noted that the move was a valuation call. Finally, Benchmark raised shares of CSX from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research report on Friday, September 25th. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $77.04.

CSX traded down $0.81 during midday trading on Thursday, hitting $76.86. 4,212,376 shares of the company traded hands, compared to its average volume of 4,576,771. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $58.80 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 2.91 and a beta of 1.17. The company’s 50-day moving average is $76.55 and its 200 day moving average is $68.63. CSX Co. has a 52 week low of $46.81 and a 52 week high of $81.40.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, July 22nd. The transportation company reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.31 billion. CSX had a net margin of 26.39% and a return on equity of 24.24%. During the same quarter in the prior year, the business earned $1.08 EPS. On average, sell-side analysts predict that CSX Co. will post 3.52 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.35%. The ex-dividend date was Friday, August 28th. CSX’s dividend payout ratio is currently 24.94%.

About CSX

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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