Benin Management CORP lessened its position in CSX Co. (NASDAQ:CSX) by 18.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 10,100 shares of the transportation company’s stock after selling 2,300 shares during the quarter. Benin Management CORP’s holdings in CSX were worth $748,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Acropolis Investment Management LLC acquired a new position in shares of CSX in the 3rd quarter worth $107,000. IMS Capital Management acquired a new position in shares of CSX in the 2nd quarter worth $124,000. Strategic Wealth Partners Ltd. acquired a new position in shares of CSX in the 2nd quarter worth $128,000. Kaizen Advisory LLC grew its holdings in shares of CSX by 150.5% in the 2nd quarter. Kaizen Advisory LLC now owns 2,164 shares of the transportation company’s stock worth $138,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Sun Life Financial INC grew its holdings in shares of CSX by 950.0% in the 2nd quarter. Sun Life Financial INC now owns 2,373 shares of the transportation company’s stock worth $151,000 after acquiring an additional 2,147 shares during the last quarter. 74.62% of the stock is currently owned by institutional investors.

Shares of CSX stock traded down $1.49 on Wednesday, reaching $70.71. 917,492 shares of the company’s stock traded hands, compared to its average volume of 5,828,498. CSX Co. has a 12-month low of $48.26 and a 12-month high of $76.24. The company has a current ratio of 1.66, a quick ratio of 1.48 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $63.59 billion, a price-to-earnings ratio of 30.79, a P/E/G ratio of 1.54 and a beta of 1.24.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Tuesday, October 16th. The transportation company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.11. CSX had a return on equity of 19.31% and a net margin of 53.27%. The business had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. CSX’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, sell-side analysts predict that CSX Co. will post 3.61 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.24%. CSX’s dividend payout ratio is 38.26%.

CSX has been the topic of a number of recent research reports. Zacks Investment Research upgraded CSX from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Tuesday, June 19th. BidaskClub cut CSX from a “buy” rating to a “hold” rating in a report on Saturday, June 23rd. Citigroup lifted their target price on CSX from $67.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, June 25th. ValuEngine upgraded CSX from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Finally, Loop Capital upgraded CSX from a “hold” rating to a “buy” rating and lifted their target price for the stock from $65.00 to $78.00 in a report on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $76.65.

CSX Profile

CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; 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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