Farmers Trust Co. Sells 600 Shares of CSX Co. (NASDAQ:CSX)

Farmers Trust Co. decreased its position in CSX Co. (NASDAQ:CSX) by 13.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,810 shares of the transportation company’s stock after selling 600 shares during the quarter. Farmers Trust Co.’s holdings in CSX were worth $276,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CSX. Keudell Morrison Wealth Management bought a new position in shares of CSX in the 2nd quarter valued at $2,395,000. Holocene Advisors LP acquired a new stake in CSX in the second quarter valued at $521,000. Vanguard Group Inc. increased its holdings in CSX by 0.4% in the second quarter. Vanguard Group Inc. now owns 64,212,600 shares of the transportation company’s stock valued at $4,968,128,000 after purchasing an additional 272,226 shares during the period. Kempen Capital Management N.V. increased its holdings in CSX by 272.8% in the second quarter. Kempen Capital Management N.V. now owns 5,144 shares of the transportation company’s stock valued at $398,000 after purchasing an additional 3,764 shares during the period. Finally, Massmutual Trust Co. FSB ADV acquired a new stake in CSX in the second quarter valued at $390,000. Hedge funds and other institutional investors own 76.13% of the company’s stock.

A number of analysts recently weighed in on the company. Argus set a $82.00 price objective on CSX and gave the company a “buy” rating in a report on Friday, October 18th. TD Securities increased their price objective on CSX from $76.00 to $77.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Deutsche Bank downgraded CSX from a “buy” rating to a “hold” rating and decreased their price objective for the company from $82.00 to $74.00 in a report on Monday, November 11th. Wells Fargo & Co assumed coverage on CSX in a report on Monday, October 28th. They issued a “market perform” rating and a $73.00 price objective for the company. Finally, Bank of America decreased their price objective on CSX from $82.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $78.00.

Shares of CSX stock opened at $74.99 on Thursday. The company has a current ratio of 1.41, a quick ratio of 1.33 and a debt-to-equity ratio of 1.35. The business has a 50-day moving average price of $72.43 and a two-hundred day moving average price of $70.75. CSX Co. has a 1-year low of $63.14 and a 1-year high of $80.73. The company has a market cap of $58.41 billion, a P/E ratio of 19.53, a PEG ratio of 1.38 and a beta of 1.21.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, October 16th. The transportation company reported $1.08 earnings per share for the quarter, topping the Zacks’ 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 during the quarter, compared to the consensus estimate of $2.98 billion. During the same period last year, the business posted $1.05 EPS. The business’s revenue was down 4.8% compared to the same quarter last year. Equities research analysts forecast that CSX Co. will post 4.16 EPS for the current fiscal year.

In other news, Director Steven T. Halverson sold 39,812 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $71.65, for a total transaction of $2,852,529.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.83% of the stock is owned by corporate insiders.

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.

Further Reading: Stock Portfolio Tracker

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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