Tranquility Partners LLC Has $569,000 Position in CSX Co. (NASDAQ:CSX)

Tranquility Partners LLC decreased its holdings in shares of CSX Co. (NASDAQ:CSX) by 4.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,475 shares of the transportation company’s stock after selling 799 shares during the quarter. Tranquility Partners LLC’s holdings in CSX were worth $569,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in shares of CSX during the 2nd quarter valued at $26,000. Valley Wealth Managers Inc. boosted its position in CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 480 shares during the last quarter. MFA Wealth Advisors LLC purchased a new position in CSX in the second quarter valued at about $27,000. Morton Brown Family Wealth LLC acquired a new position in CSX in the 3rd quarter worth about $31,000. Finally, Fairscale Capital LLC purchased a new stake in shares of CSX during the 2nd quarter worth about $32,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Trading Down 0.5 %

Shares of CSX stock opened at $34.97 on Tuesday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. CSX Co. has a 1 year low of $31.44 and a 1 year high of $40.12. The firm has a market cap of $67.44 billion, a PE ratio of 18.80, a PEG ratio of 2.23 and a beta of 1.19. The company has a 50 day simple moving average of $34.35 and a two-hundred day simple moving average of $33.91.

CSX (NASDAQ:CSX) last posted 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 during 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%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 earnings per share. Analysts expect 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. Stockholders of record on Friday, November 29th will be given a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.37%. CSX’s dividend payout ratio is currently 25.81%.

Analysts Set New Price Targets

Several equities research analysts recently commented on CSX shares. JPMorgan Chase & Co. boosted their price target on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Stifel Nicolaus decreased their target price on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Loop Capital reduced their price objective on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Wells Fargo & Company lowered their target price on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Finally, TD Cowen cut their target price on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.