Gamco Investors INC. ET AL Lowers Holdings in CSX Co. (NASDAQ:CSX)

Gamco Investors INC. ET AL lessened its stake in CSX Co. (NASDAQ:CSX) by 28.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,625 shares of the transportation company’s stock after selling 1,825 shares during the quarter. Gamco Investors INC. ET AL’s holdings in CSX were worth $320,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Krane Funds Advisors LLC purchased a new position in CSX during the second quarter worth approximately $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in CSX by 88.5% during the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 426 shares of the transportation company’s stock worth $29,000 after buying an additional 200 shares in the last quarter. SRS Capital Advisors Inc. purchased a new position in CSX during the second quarter worth approximately $32,000. Kavar Capital Partners LLC purchased a new position in CSX during the second quarter worth approximately $35,000. Finally, FNY Investment Advisers LLC purchased a new position in CSX during the second quarter worth approximately $36,000. 77.82% of the stock is owned by institutional investors and hedge funds.

NASDAQ:CSX traded down $1.02 during midday trading on Tuesday, hitting $72.88. 126,083 shares of the stock were exchanged, compared to its average volume of 5,550,375. CSX Co. has a one year low of $58.47 and a one year high of $80.73. The company has a market capitalization of $57.92 billion, a price-to-earnings ratio of 18.98, a P/E/G ratio of 1.38 and a beta of 1.22. The business has a 50-day moving average price of $69.95 and a two-hundred day moving average price of $72.53. The company has a current ratio of 1.41, a quick ratio of 1.33 and a debt-to-equity ratio of 1.35.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, October 16th. The transportation company reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.06. CSX had a return on equity of 27.67% and a net margin of 27.91%. The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the previous year, the company earned $1.05 earnings per share. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. Sell-side analysts forecast that CSX Co. will post 4.19 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.96 annualized dividend and a yield of 1.32%. CSX’s payout ratio is 25.00%.

CSX has been the topic of a number of analyst reports. TD Securities lifted their price objective on CSX from $76.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Argus set a $82.00 price target on CSX and gave the company a “buy” rating in a report on Friday, October 18th. Raymond James cut their price target on CSX from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Morgan Stanley cut their price target on CSX from $56.00 to $55.00 and set an “underweight” rating on the stock in a report on Monday, October 7th. Finally, UBS Group cut their price target on CSX from $81.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, September 17th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $77.38.

In related news, Director Ridge Lp Mantle sold 3,453,894 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $67.91, for a total transaction of $234,553,941.54. Following the sale, the director now owns 8,263 shares of the company’s stock, valued at $561,140.33. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven T. Halverson sold 39,812 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was 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. 4.83% of the stock is owned by insiders.

CSX Company Profile

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.

Read More: Capital Gains Distribution

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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