Financial Council LLC Makes New $369,000 Investment in CSX Co. (NASDAQ:CSX)

Financial Council LLC bought a new position in shares of CSX Co. (NASDAQ:CSX) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,677 shares of the transportation company’s stock, valued at approximately $369,000.

A number of other large investors also recently modified their holdings of CSX. Valley Wealth Managers Inc. lifted its stake 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 in the last quarter. Itau Unibanco Holding S.A. bought a new stake in CSX in the 2nd quarter valued at $26,000. MFA Wealth Advisors LLC acquired a new position in CSX in the 2nd quarter worth $27,000. Fairscale Capital LLC bought a new position in CSX during the 2nd quarter worth about $32,000. Finally, Morton Brown Family Wealth LLC bought a new stake in shares of CSX in the third quarter valued at about $31,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CSX has been the subject of a number of analyst reports. Loop Capital decreased their target price 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. Wells Fargo & Company decreased 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. BMO Capital Markets dropped their target price on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Stifel Nicolaus reduced their price target on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Finally, Stephens lowered their price target on CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.78.

CSX Trading Up 1.2 %

Shares of CSX stock opened at $35.78 on Friday. CSX Co. has a 52-week low of $31.65 and a 52-week high of $40.12. The stock has a market cap of $69.00 billion, a PE ratio of 19.24, a PEG ratio of 2.24 and a beta of 1.19. The firm has a 50-day moving average of $34.48 and a 200-day moving average of $33.94. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39.

CSX (NASDAQ:CSX) last released its quarterly 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). CSX had a net margin of 24.77% and a return on equity of 28.92%. The business 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 firm posted $0.42 earnings per share. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, sell-side analysts forecast that CSX Co. will post 1.84 EPS for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid 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 yield of 1.34%. 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.