CSX Co. (NASDAQ:CSX) Stake Lifted by Aviance Capital Partners LLC

Aviance Capital Partners LLC raised its stake in CSX Co. (NASDAQ:CSX) by 11.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 33,119 shares of the transportation company’s stock after buying an additional 3,402 shares during the quarter. Aviance Capital Partners LLC’s holdings in CSX were worth $1,144,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new position in CSX in the 2nd quarter worth approximately $26,000. Valley Wealth Managers Inc. boosted its position in CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after acquiring an additional 480 shares during the period. MFA Wealth Advisors LLC bought a new position in shares of CSX in the second quarter worth $27,000. Morton Brown Family Wealth LLC acquired a new position in shares of CSX during the third quarter valued at $31,000. Finally, Fairscale Capital LLC bought a new stake in shares of CSX during the second quarter valued at about $32,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Down 1.1 %

CSX stock opened at $34.60 on Wednesday. The firm’s 50 day moving average price is $34.37 and its two-hundred day moving average price is $33.92. The firm has a market cap of $66.72 billion, a PE ratio of 18.60, a P/E/G ratio of 2.23 and a beta of 1.19. CSX Co. has a twelve month low of $31.44 and a twelve month high of $40.12. 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 data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) 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 firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same period in the previous year, the business posted $0.42 EPS. CSX’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, research analysts predict that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.39%. CSX’s dividend payout ratio is currently 25.81%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Susquehanna decreased their target price on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research report on Thursday, October 17th. Evercore ISI lowered their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Wells Fargo & Company cut their target price on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. BMO Capital Markets lowered their price target on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, Barclays upped their price objective on CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.78.

CSX 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.