Philip James Wealth Mangement LLC Makes New $516,000 Investment in CSX Co. (NASDAQ:CSX)

Philip James Wealth Mangement LLC acquired a new stake in CSX Co. (NASDAQ:CSX) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 14,953 shares of the transportation company’s stock, valued at approximately $516,000.

Several other institutional investors also recently modified their holdings of CSX. Interval Partners LP grew its holdings in CSX by 849.0% during the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after purchasing an additional 4,579,344 shares during the period. Manning & Napier Advisors LLC bought a new stake in CSX in the second quarter valued at approximately $116,430,000. M&G Plc acquired a new stake in shares of CSX in the first quarter valued at approximately $126,089,000. Assenagon Asset Management S.A. boosted its stake in shares of CSX by 318.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock worth $112,946,000 after acquiring an additional 2,489,329 shares during the period. Finally, Wulff Hansen & CO. increased its holdings in shares of CSX by 3,243.0% during the 2nd quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock worth $73,331,000 after acquiring an additional 2,126,668 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on CSX. TD Cowen cut their price target on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Wells Fargo & Company reduced their target price on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Barclays lowered their price target on shares of CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. JPMorgan Chase & Co. boosted their price objective on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Finally, Benchmark reiterated a “buy” rating and set a $40.00 target price on shares of CSX in a research note on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.61.

CSX Price Performance

CSX stock traded up $0.18 during trading hours on Friday, reaching $35.74. 1,617,072 shares of the stock were exchanged, compared to its average volume of 11,694,357. The stock has a 50 day moving average of $34.08 and a two-hundred day moving average of $33.80. The company has a market cap of $68.92 billion, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a twelve month low of $30.13 and a twelve month high of $40.12.

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

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.34%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio (DPR) 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.