CSX Co. (NASDAQ:CSX) Shares Acquired by Financial Strategies Group Inc.

Financial Strategies Group Inc. boosted its position in CSX Co. (NASDAQ:CSX) by 4.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 22,761 shares of the transportation company’s stock after acquiring an additional 880 shares during the quarter. Financial Strategies Group Inc.’s holdings in CSX were worth $803,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CSX. Advisory Services Network LLC grew its position in shares of CSX by 1.0% during the first quarter. Advisory Services Network LLC now owns 82,296 shares of the transportation company’s stock worth $3,051,000 after buying an additional 825 shares in the last quarter. Duality Advisers LP acquired a new position in CSX during the 1st quarter worth $840,000. Envestnet Portfolio Solutions Inc. increased its position in shares of CSX by 4.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 117,902 shares of the transportation company’s stock worth $4,371,000 after purchasing an additional 5,125 shares during the last quarter. LSV Asset Management raised its stake in shares of CSX by 40.0% in the 1st quarter. LSV Asset Management now owns 21,000 shares of the transportation company’s stock valued at $778,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in CSX during the 1st quarter worth approximately $1,931,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CSX has been the subject of several recent research reports. Stifel Nicolaus lowered their target price on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Royal Bank of Canada lowered their price objective on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. Susquehanna dropped their target price on CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research report on Thursday, October 17th. Loop Capital reduced their price target on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Finally, Wells Fargo & Company dropped their price objective on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.61.

CSX Price Performance

Shares of CSX stock opened at $35.56 on Friday. CSX Co. has a 52 week low of $30.13 and a 52 week high of $40.12. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a market cap of $68.57 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. The company’s 50-day moving average price is $34.08 and its two-hundred day moving average price is $33.80.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS 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 analyst estimates of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.42 earnings per share. As a group, sell-side analysts anticipate that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio is presently 25.81%.

CSX 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.