B. Riley Wealth Advisors Inc. Sells 10,131 Shares of CSX Co. (NASDAQ:CSX)

B. Riley Wealth Advisors Inc. decreased its position in CSX Co. (NASDAQ:CSX) by 8.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 113,216 shares of the transportation company’s stock after selling 10,131 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in CSX were worth $3,888,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gradient Investments LLC grew its holdings in CSX by 7.9% during the 2nd quarter. Gradient Investments LLC now owns 8,325 shares of the transportation company’s stock worth $278,000 after acquiring an additional 611 shares during the period. Western Wealth Management LLC boosted its position in shares of CSX by 0.8% in the 2nd quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock worth $1,208,000 after purchasing an additional 295 shares during the last quarter. Apollon Wealth Management LLC grew its stake in shares of CSX by 2.7% during the second quarter. Apollon Wealth Management LLC now owns 55,046 shares of the transportation company’s stock worth $1,841,000 after purchasing an additional 1,445 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in CSX by 8.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 633,527 shares of the transportation company’s stock valued at $21,191,000 after purchasing an additional 51,306 shares during the last quarter. Finally, Continuum Advisory LLC lifted its stake in CSX by 2.4% in the second quarter. Continuum Advisory LLC now owns 23,810 shares of the transportation company’s stock valued at $796,000 after buying an additional 565 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Down 1.3 %

NASDAQ:CSX opened at $33.24 on Friday. The stock has a 50-day simple moving average of $34.77 and a 200 day simple moving average of $34.09. CSX Co. has a 52-week low of $31.74 and a 52-week high of $40.12. The company has a market cap of $64.10 billion, a PE ratio of 17.87, a PEG ratio of 2.24 and a beta of 1.20. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. CSX’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 earnings per share. On average, sell-side analysts expect that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a $0.12 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.44%. CSX’s payout ratio is currently 25.81%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CSX. BMO Capital Markets decreased their target price on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Royal Bank of Canada decreased their price objective on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Citigroup upped their target price on shares of CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Susquehanna reduced their price target on shares of CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research report on Thursday, October 17th. Finally, Evercore ISI lowered their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $38.78.

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.