Fifth Third Wealth Advisors LLC Has $1.92 Million Stock Position in CSX Co. (NASDAQ:CSX)

Fifth Third Wealth Advisors LLC increased its position in shares of CSX Co. (NASDAQ:CSX) by 6.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,715 shares of the transportation company’s stock after acquiring an additional 3,395 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in CSX were worth $1,924,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new position in CSX during the 2nd quarter valued at about $26,000. Valley Wealth Managers Inc. lifted its holdings in CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after buying an additional 480 shares during the period. MFA Wealth Advisors LLC bought a new position in CSX in the second quarter valued at approximately $27,000. Morton Brown Family Wealth LLC acquired a new stake in CSX during the 3rd quarter worth $31,000. Finally, Fairscale Capital LLC acquired a new position in shares of CSX in the 2nd quarter valued at $32,000. Institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Barclays lifted their price objective on CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Loop Capital lowered their price target on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Royal Bank of Canada cut their price target on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. 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 report on Thursday, October 17th. Finally, Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of CSX in a report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $38.78.

CSX Trading Down 1.1 %

NASDAQ:CSX opened at $34.60 on Wednesday. The company has a market cap of $66.72 billion, a P/E ratio of 18.60, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19. CSX Co. has a twelve month low of $31.44 and a twelve month high of $40.12. The business has a 50 day moving average price of $34.37 and a two-hundred day moving average price of $33.92. 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 (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). 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 business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS. As a group, analysts expect that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently declared 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. This represents a $0.48 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is currently 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.