Folger Nolan Fleming Douglas Capital Management Inc. Has $788,000 Stake in CSX Corporation $CSX

Folger Nolan Fleming Douglas Capital Management Inc. trimmed its stake in shares of CSX Corporation (NASDAQ:CSX) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,151 shares of the transportation company’s stock after selling 300 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in CSX were worth $788,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Knights of Columbus Asset Advisors LLC lifted its position in shares of CSX by 1.6% during the second quarter. Knights of Columbus Asset Advisors LLC now owns 186,778 shares of the transportation company’s stock worth $6,095,000 after purchasing an additional 2,985 shares in the last quarter. Stock Yards Bank & Trust Co. lifted its position in shares of CSX by 0.9% during the second quarter. Stock Yards Bank & Trust Co. now owns 45,558 shares of the transportation company’s stock worth $1,487,000 after purchasing an additional 400 shares in the last quarter. Crews Bank & Trust lifted its position in shares of CSX by 15.8% during the second quarter. Crews Bank & Trust now owns 13,196 shares of the transportation company’s stock worth $431,000 after purchasing an additional 1,800 shares in the last quarter. Augustine Asset Management Inc. lifted its position in shares of CSX by 1.3% during the second quarter. Augustine Asset Management Inc. now owns 72,243 shares of the transportation company’s stock worth $2,357,000 after purchasing an additional 962 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its holdings in CSX by 39.9% in the second quarter. TD Private Client Wealth LLC now owns 42,098 shares of the transportation company’s stock valued at $1,374,000 after buying an additional 12,016 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Performance

Shares of CSX stock opened at $35.49 on Friday. The company has a market capitalization of $66.16 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 2.81 and a beta of 1.29. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. The company has a 50-day simple moving average of $34.29 and a 200 day simple moving average of $32.19. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.25.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. CSX’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.49 EPS. On average, sell-side analysts predict that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.5%. CSX’s payout ratio is currently 32.10%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wolfe Research increased their price objective on shares of CSX from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday. Weiss Ratings restated a “hold (c+)” rating on shares of CSX in a report on Wednesday. Wall Street Zen lowered shares of CSX from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Thursday, July 24th. Finally, Jefferies Financial Group restated a “buy” rating on shares of CSX in a research note on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and a consensus target price of $38.26.

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 also 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.