First Business Financial Services Inc. Acquires 4,767 Shares of CSX Co. (NASDAQ:CSX)

First Business Financial Services Inc. grew its holdings in shares of CSX Co. (NASDAQ:CSX) by 8.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 60,236 shares of the transportation company’s stock after acquiring an additional 4,767 shares during the quarter. First Business Financial Services Inc.’s holdings in CSX were worth $2,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of CSX by 2.6% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 313,381 shares of the transportation company’s stock valued at $11,617,000 after purchasing an additional 7,802 shares during the last quarter. Kingsview Wealth Management LLC raised its stake in CSX by 4.9% in the first quarter. Kingsview Wealth Management LLC now owns 50,619 shares of the transportation company’s stock worth $1,876,000 after buying an additional 2,342 shares in the last quarter. HBK Sorce Advisory LLC boosted its position in shares of CSX by 19.9% during the first quarter. HBK Sorce Advisory LLC now owns 15,883 shares of the transportation company’s stock valued at $589,000 after purchasing an additional 2,638 shares in the last quarter. Blair William & Co. IL grew its position in shares of CSX by 11.6% in the 1st quarter. Blair William & Co. IL now owns 164,120 shares of the transportation company’s stock worth $6,084,000 after buying an additional 17,109 shares during the period. Finally, Orion Portfolio Solutions LLC lifted its holdings in shares of CSX by 1.6% during the first quarter. Orion Portfolio Solutions LLC now owns 200,824 shares of the transportation company’s stock valued at $7,445,000 after purchasing an additional 3,087 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

CSX has been the topic of several analyst reports. Stifel Nicolaus lowered their price objective on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Royal Bank of Canada lowered their price objective on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. BMO Capital Markets dropped their price objective on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. TD Cowen reduced their target price on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Finally, Evercore ISI lowered their target price on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research report 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 presently has an average rating of “Moderate Buy” and a consensus price target of $38.78.

CSX Price Performance

CSX stock opened at $35.63 on Friday. The firm has a 50-day moving average of $34.26 and a two-hundred day moving average of $33.87. 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 $30.86 and a 1 year high of $40.12. The stock has a market cap of $68.71 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 2.32 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its quarterly earnings data 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 net margin of 24.77% and a return on equity of 28.92%. CSX’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 business earned $0.42 EPS. On average, research analysts forecast that CSX Co. will post 1.84 earnings per share for the current year.

CSX Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s payout ratio is presently 25.81%.

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.