Great Valley Advisor Group Inc. Grows Stake in CSX Co. (NASDAQ:CSX)

Great Valley Advisor Group Inc. lifted its stake in CSX Co. (NASDAQ:CSX) by 14.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,899 shares of the transportation company’s stock after purchasing an additional 3,252 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in CSX were worth $894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

CSX Trading Up 2.3 %

CSX stock opened at $36.62 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 $31.65 and a 1-year high of $40.12. The business has a 50 day simple moving average of $34.53 and a two-hundred day simple moving average of $33.96. The company has a market capitalization of $70.62 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 2.27 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The company 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 was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 EPS. Research analysts anticipate that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.31%. CSX’s payout ratio is 25.81%.

Analyst Upgrades and Downgrades

CSX has been the subject of several research reports. Loop Capital reduced their price target on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Barclays upped their target price on shares of CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Citigroup lifted their price target on shares of CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. TD Cowen reduced their price objective on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Finally, Wells Fargo & Company lowered their target price on CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and a consensus 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.