Hancock Whitney Corp Sells 1,209 Shares of CSX Co. (NASDAQ:CSX)

Hancock Whitney Corp lessened its holdings in shares of CSX Co. (NASDAQ:CSX) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,907 shares of the transportation company’s stock after selling 1,209 shares during the period. Hancock Whitney Corp’s holdings in CSX were worth $3,277,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. purchased a new position in CSX during the 2nd quarter valued at about $26,000. Valley Wealth Managers Inc. increased its holdings in shares of CSX by 177.8% in the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after purchasing an additional 480 shares in the last quarter. MFA Wealth Advisors LLC purchased a new position in shares of CSX in the second quarter worth $27,000. Morton Brown Family Wealth LLC purchased a new stake in shares of CSX during the third quarter valued at $31,000. Finally, Fairscale Capital LLC bought a new stake in CSX in the 2nd quarter worth about $32,000. 73.57% of the stock is currently owned by institutional investors.

CSX Stock Up 2.3 %

CSX opened at $36.62 on Tuesday. The stock has a market cap of $70.62 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The firm’s fifty day moving average is $34.53 and its 200 day moving average is $33.96. CSX Co. has a fifty-two week low of $31.65 and a fifty-two week high of $40.12.

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

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.31%. CSX’s dividend payout ratio is currently 25.81%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Susquehanna decreased their price objective on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a report on Thursday, October 17th. Citigroup raised their price target on CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Wells Fargo & Company reduced their price objective on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Loop Capital lowered their target price on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Finally, Barclays boosted their price target on CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $38.78.

About CSX

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.