CSX Co. (NASDAQ:CSX) Shares Acquired by Financial Strategies Group Inc.

Financial Strategies Group Inc. lifted its holdings in CSX Co. (NASDAQ:CSX) by 4.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,761 shares of the transportation company’s stock after buying an additional 880 shares during the quarter. Financial Strategies Group Inc.’s holdings in CSX were worth $803,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of CSX during the 2nd quarter valued at approximately $26,000. MFA Wealth Advisors LLC purchased a new position in CSX in the 2nd quarter valued at approximately $27,000. Fairscale Capital LLC acquired a new position in CSX during the second quarter worth $32,000. Morton Brown Family Wealth LLC purchased a new stake in CSX during the third quarter worth $31,000. Finally, TFC Financial Management Inc. grew its holdings in CSX by 72.4% in the second quarter. TFC Financial Management Inc. now owns 1,048 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 440 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CSX shares. Loop Capital dropped their price target on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Stifel Nicolaus cut their target price on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Barclays reduced their price target on shares of CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Stephens dropped their price objective on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Finally, BMO Capital Markets reduced their target price on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. 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 stock has an average rating of “Moderate Buy” and a consensus price target of $38.61.

CSX Stock Down 3.6 %

Shares of NASDAQ:CSX opened at $35.56 on Friday. CSX Co. has a 1 year low of $30.13 and a 1 year high of $40.12. The stock has a 50-day simple moving average of $34.08 and a 200-day simple moving average of $33.80. The stock has a market capitalization of $68.57 billion, a P/E ratio of 19.12, a PEG ratio of 2.12 and a beta of 1.19. 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 announced 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 return on equity of 28.92% and a net margin of 24.77%. The business had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same period last year, the company posted $0.42 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. Equities analysts forecast that CSX Co. will post 1.84 earnings per share for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.35%. CSX’s dividend payout ratio (DPR) is currently 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.