First Horizon Advisors Inc. Has $631,000 Stake in CSX Co. (NASDAQ:CSX)

First Horizon Advisors Inc. boosted its holdings in CSX Co. (NASDAQ:CSX) by 19.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,283 shares of the transportation company’s stock after acquiring an additional 3,031 shares during the quarter. First Horizon Advisors Inc.’s holdings in CSX were worth $631,000 at the end of the most recent quarter.

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

CSX Stock Up 2.1 %

CSX stock opened at $35.31 on Friday. The stock has a market capitalization of $68.09 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 2.20 and a beta of 1.19. CSX Co. has a twelve month low of $31.65 and a twelve month high of $40.12. The stock has a 50 day moving average of $34.43 and a two-hundred day moving average of $33.93. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the company earned $0.42 EPS. As a group, research analysts expect that CSX Co. will post 1.84 earnings per share for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.36%. 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

A number of equities analysts have commented on the company. Citigroup lifted their price target on CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Stephens lowered their price target on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Benchmark restated a “buy” rating and set a $40.00 price target on shares of CSX in a report on Wednesday, August 7th. TD Cowen decreased their price target on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. raised their target price on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.78.

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.