CSX Co. (NASDAQ:CSX) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC increased its position in shares of CSX Co. (NASDAQ:CSX) by 20.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 189,366 shares of the transportation company’s stock after acquiring an additional 31,604 shares during the period. Empowered Funds LLC’s holdings in CSX were worth $6,539,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Itau Unibanco Holding S.A. acquired a new stake in shares of CSX during the 2nd quarter valued at $26,000. MFA Wealth Advisors LLC purchased a new stake in shares of CSX during the second quarter valued at $27,000. Fairscale Capital LLC acquired a new position in shares of CSX in the 2nd quarter valued at $32,000. Morton Brown Family Wealth LLC purchased a new position in CSX in the 3rd quarter worth about $31,000. Finally, Addison Advisors LLC raised its holdings in CSX by 348.5% during the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock worth $36,000 after buying an additional 812 shares during the period. 73.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on CSX shares. JPMorgan Chase & Co. raised their target price on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. 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 research note on Thursday, October 17th. TD Cowen cut their target price on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Stephens decreased their target price on CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Finally, Citigroup lifted their price target on CSX from $42.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and a consensus target price of $38.78.

CSX Stock Performance

CSX stock opened at $35.13 on Friday. The company has a market capitalization of $67.75 billion, a price-to-earnings ratio of 18.89, a P/E/G ratio of 2.32 and a beta of 1.19. The firm has a 50 day moving average of $34.32 and a two-hundred day moving average of $33.90. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. CSX Co. has a 12 month low of $30.86 and a 12 month high of $40.12.

CSX (NASDAQ:CSX) last posted 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 return on equity of 28.92% and a net margin of 24.77%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 earnings per share. As a group, equities analysts anticipate that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.37%. CSX’s payout ratio is currently 25.81%.

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.