Foster & Motley Inc. Has $1.44 Million Stock Position in CSX Co. (NASDAQ:CSX)

Foster & Motley Inc. lifted its position in shares of CSX Co. (NASDAQ:CSX) by 85.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,823 shares of the transportation company’s stock after purchasing an additional 19,280 shares during the quarter. Foster & Motley Inc.’s holdings in CSX were worth $1,444,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in CSX in the second quarter worth about $26,000. MFA Wealth Advisors LLC acquired a new position in shares of CSX in the 2nd quarter worth approximately $27,000. Morton Brown Family Wealth LLC bought a new position in shares of CSX during the 3rd quarter worth approximately $31,000. Fairscale Capital LLC acquired a new stake in CSX in the 2nd quarter valued at $32,000. Finally, Strategic Financial Concepts LLC bought a new stake in CSX in the second quarter valued at $33,000. 73.57% of the stock is currently owned by institutional investors.

CSX Stock Up 8.4 %

Shares of CSX stock opened at $36.88 on Thursday. CSX Co. has a 12-month low of $30.00 and a 12-month high of $40.12. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The firm has a fifty day moving average of $34.08 and a 200-day moving average of $33.80. The company has a market capitalization of $71.12 billion, a price-to-earnings ratio of 19.83, a P/E/G ratio of 2.10 and a beta of 1.19.

CSX (NASDAQ:CSX) last released its earnings results 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 for 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%. CSX’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the company posted $0.42 EPS. As a group, equities research analysts predict that CSX Co. will post 1.86 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s payout ratio is 25.81%.

Analysts Set New Price Targets

A number of research analysts have issued reports on CSX shares. Stifel Nicolaus cut their price objective on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Benchmark reissued a “buy” rating and set a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. BMO Capital Markets dropped their target price on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Royal Bank of Canada reduced their price target on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Finally, Evercore ISI dropped their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.61.

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.