Bath Savings Trust Co Reduces Stake in CSX Co. (NASDAQ:CSX)

Bath Savings Trust Co lowered its holdings in CSX Co. (NASDAQ:CSX) by 0.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 47,714 shares of the transportation company’s stock after selling 350 shares during the quarter. Bath Savings Trust Co’s holdings in CSX were worth $1,627,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Thompson Investment Management Inc. acquired a new stake in shares of CSX in the 1st quarter valued at about $25,000. Kalos Management Inc. acquired a new stake in shares of CSX in the 1st quarter valued at about $25,000. TimeScale Financial Inc. boosted its position in shares of CSX by 1,391.8% in the 1st quarter. TimeScale Financial Inc. now owns 910 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 849 shares during the period. Fortis Capital Advisors LLC acquired a new stake in shares of CSX in the 4th quarter valued at about $27,000. Finally, Barrett & Company Inc. acquired a new stake in CSX during the 1st quarter worth approximately $31,000. 72.76% of the stock is owned by institutional investors and hedge funds.

CSX Trading Up 1.1 %

CSX stock traded up $0.33 during midday trading on Monday, reaching $31.18. The stock had a trading volume of 4,058,804 shares, compared to its average volume of 13,101,229. CSX Co. has a twelve month low of $25.80 and a twelve month high of $34.38. The stock has a market capitalization of $62.56 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 2.68 and a beta of 1.22. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.21 and a current ratio of 1.42. The stock’s 50-day simple moving average is $31.65 and its 200 day simple moving average is $31.37.

CSX (NASDAQ:CSX) last issued its earnings results on Thursday, July 20th. The transportation company reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.73 billion. CSX had a return on equity of 32.82% and a net margin of 27.36%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 earnings per share. Analysts expect that CSX Co. will post 1.9 EPS for the current year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Wednesday, August 30th. CSX’s dividend payout ratio (DPR) is 22.22%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CSX. Stephens reaffirmed an “overweight” rating and set a $39.00 price objective on shares of CSX in a research report on Friday, July 21st. BMO Capital Markets reissued an “outperform” rating and issued a $37.00 price target on shares of CSX in a report on Friday, July 21st. StockNews.com started coverage on CSX in a report on Thursday, August 17th. They issued a “hold” rating for the company. Bank of America raised CSX from a “neutral” rating to a “buy” rating and raised their price target for the company from $34.00 to $36.00 in a report on Friday, September 8th. Finally, Royal Bank of Canada downgraded CSX from an “outperform” rating to a “sector perform” rating and set a $35.00 price objective for the company. in a research note on Monday, July 31st. Nine analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.43.

CSX Company 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 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.