Beese Fulmer Investment Management Inc. increased its holdings in CSX Co. (NASDAQ:CSX) by 23.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,267 shares of the transportation company’s stock after buying an additional 4,530 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in CSX were worth $1,681,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Patriot Financial Group Insurance Agency LLC grew its holdings in CSX by 25.6% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 3,347 shares of the transportation company’s stock worth $262,000 after buying an additional 683 shares in the last quarter. EdgePoint Investment Group Inc. boosted its stake in CSX by 6.8% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 10,698,067 shares of the transportation company’s stock valued at $827,709,000 after purchasing an additional 685,637 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in CSX by 22.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 162,540 shares of the transportation company’s stock valued at $12,575,000 after purchasing an additional 30,174 shares in the last quarter. Fulton Bank N.A. boosted its stake in CSX by 40.8% during the 3rd quarter. Fulton Bank N.A. now owns 4,654 shares of the transportation company’s stock valued at $322,000 after purchasing an additional 1,349 shares in the last quarter. Finally, First Command Financial Services Inc. boosted its stake in CSX by 38.5% during the 2nd quarter. First Command Financial Services Inc. now owns 2,931 shares of the transportation company’s stock valued at $227,000 after purchasing an additional 814 shares in the last quarter. 77.80% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. lowered CSX from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $83.00 to $76.00 in a research note on Friday, October 4th. They noted that the move was a valuation call. Morgan Stanley decreased their price target on CSX from $56.00 to $55.00 and set an “underweight” rating for the company in a research note on Monday, October 7th. Bank of America decreased their price target on CSX from $82.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Argus set a $82.00 price target on CSX and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Raymond James decreased their price target on CSX from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the company’s stock. The company 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 on Thursday, October 17th. The stock was sold at an average price of $67.91, for a total value of $234,553,941.54. Following the completion of the sale, the director now owns 8,263 shares in the company, valued at $561,140.33. The transaction 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 on 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. Company insiders own 4.83% of the company’s stock.

CSX opened at $73.64 on Thursday. The firm has a market cap of $56.54 billion, a PE ratio of 19.18, a P/E/G ratio of 1.35 and a beta of 1.22. The company has a quick ratio of 1.33, a current ratio of 1.41 and a debt-to-equity ratio of 1.35. The business has a fifty day simple moving average of $69.61 and a 200-day simple moving average of $72.63. CSX Co. has a fifty-two week low of $58.47 and a fifty-two week high of $80.73.

CSX (NASDAQ:CSX) last released its quarterly earnings data 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. The business had revenue of $2.98 billion during 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 revenue was down 4.8% compared to the same quarter last year. During the same period last year, the company posted $1.05 EPS. On average, equities research analysts anticipate that CSX Co. will post 4.18 EPS for the current fiscal year.

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 paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Wednesday, November 27th. CSX’s dividend payout ratio is presently 25.00%.

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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