Financial Council LLC Takes Position in CSX Co. (NASDAQ:CSX)

Financial Council LLC acquired a new stake in shares of CSX Co. (NASDAQ:CSX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,677 shares of the transportation company’s stock, valued at approximately $369,000.

A number of other large investors have also recently made changes to their positions in CSX. Itau Unibanco Holding S.A. purchased a new position in shares of CSX during the second quarter valued at approximately $26,000. Valley Wealth Managers Inc. lifted its stake in CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 480 shares in the last quarter. MFA Wealth Advisors LLC purchased a new position in CSX during the 2nd quarter worth $27,000. Morton Brown Family Wealth LLC bought a new stake in shares of CSX in the 3rd quarter worth $31,000. Finally, Fairscale Capital LLC purchased a new stake in shares of CSX in the second quarter valued at about $32,000. 73.57% of the stock is owned by institutional investors.

CSX Price Performance

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

CSX (NASDAQ:CSX) last issued its quarterly earnings data 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 analysts’ expectations of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. On average, research analysts forecast that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Announces Dividend

The business 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. This represents a $0.48 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is currently 25.81%.

Wall Street Analysts Forecast Growth

CSX has been the subject of several analyst reports. TD Cowen decreased their price objective on shares of CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Citigroup raised their target price on CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. BMO Capital Markets reduced their target price on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Evercore ISI reduced their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, Barclays raised their target price on CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus price target of $38.78.

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.