Philip James Wealth Mangement LLC Takes $516,000 Position in CSX Co. (NASDAQ:CSX)

Philip James Wealth Mangement LLC purchased a new stake in CSX Co. (NASDAQ:CSX) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 14,953 shares of the transportation company’s stock, valued at approximately $516,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Interval Partners LP raised its stake in shares of CSX by 849.0% in the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after acquiring an additional 4,579,344 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of CSX in the 2nd quarter valued at $116,430,000. M&G Plc acquired a new stake in CSX in the first quarter worth about $126,089,000. Assenagon Asset Management S.A. raised its holdings in CSX by 318.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock worth $112,946,000 after purchasing an additional 2,489,329 shares during the last quarter. Finally, Wulff Hansen & CO. lifted its position in CSX by 3,243.0% during the 2nd quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after purchasing an additional 2,126,668 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Royal Bank of Canada lowered their price target on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Evercore ISI lowered their target price on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Citigroup initiated coverage on shares of CSX in a research report on Wednesday, October 9th. They set a “buy” rating and a $42.00 target price for the company. JPMorgan Chase & Co. raised their price target on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Finally, Loop Capital cut their target price on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.61.

CSX Stock Up 0.5 %

NASDAQ:CSX traded up $0.18 during trading hours on Friday, reaching $35.74. 1,617,072 shares of the stock were exchanged, compared to its average volume of 11,694,357. The stock has a market cap of $68.92 billion, a PE ratio of 19.12, a PEG ratio of 2.12 and a beta of 1.19. CSX Co. has a twelve month low of $30.13 and a twelve month high of $40.12. The firm has a 50 day moving average of $34.08 and a 200 day moving average of $33.80. 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 (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 business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the previous year, the company posted $0.42 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities analysts expect that CSX Co. will post 1.84 earnings per share for the current year.

CSX Announces Dividend

The business 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. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.34%. CSX’s dividend payout ratio (DPR) is presently 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.