Costello Asset Management INC Increases Stock Position in CSX Co. (NASDAQ:CSX)

Costello Asset Management INC increased its position in shares of CSX Co. (NASDAQ:CSX) by 21.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,959 shares of the transportation company’s stock after buying an additional 20,468 shares during the period. CSX comprises approximately 2.6% of Costello Asset Management INC’s holdings, making the stock its 11th biggest holding. Costello Asset Management INC’s holdings in CSX were worth $3,935,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CSX. Banque Cantonale Vaudoise boosted its stake in shares of CSX by 149.1% during the 2nd quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock valued at $575,000 after buying an additional 10,301 shares during the last quarter. Ascent Group LLC grew its holdings in CSX by 559.7% during the 1st quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock worth $2,179,000 after acquiring an additional 49,869 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of CSX by 20.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock worth $16,139,000 after purchasing an additional 80,423 shares during the last quarter. Sei Investments Co. raised its stake in shares of CSX by 4.2% in the 1st quarter. Sei Investments Co. now owns 597,426 shares of the transportation company’s stock valued at $22,146,000 after purchasing an additional 23,938 shares in the last quarter. Finally, William B. Walkup & Associates Inc. bought a new position in shares of CSX during the second quarter worth about $867,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CSX. Wells Fargo & Company lowered their price objective on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Barclays dropped their price target on CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Stifel Nicolaus decreased their price objective on shares of 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 dropped their target price on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Thursday, October 17th. Finally, TD Cowen decreased their price target on shares of CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $38.61.

CSX Trading Up 1.2 %

Shares of NASDAQ CSX opened at $36.00 on Friday. 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 $30.13 and a 12 month high of $40.12. The company has a market cap of $69.42 billion, a price-to-earnings ratio of 19.35, a P/E/G ratio of 2.34 and a beta of 1.19. The business has a fifty day simple moving average of $34.15 and a 200-day simple moving average of $33.82.

CSX (NASDAQ:CSX) last announced 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). CSX had a return on equity of 28.92% and a net margin of 24.77%. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the previous year, the business earned $0.42 earnings per share. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. Sell-side analysts predict that CSX Co. will post 1.84 EPS for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.33%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is 25.81%.

About CSX

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.