FSA Wealth Management LLC Makes New Investment in CSX Co. (NASDAQ:CSX)

FSA Wealth Management LLC acquired a new stake in shares of CSX Co. (NASDAQ:CSX) in the third quarter, HoldingsChannel.com reports. The fund acquired 1,254 shares of the transportation company’s stock, valued at approximately $43,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CSX. B&L Asset Management LLC bought a new stake in CSX during the 3rd quarter worth approximately $264,000. Erste Asset Management GmbH bought a new stake in shares of CSX during the 3rd quarter valued at $2,204,000. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of CSX during the 3rd quarter valued at $14,261,000. Atlantic Union Bankshares Corp boosted its holdings in CSX by 7.8% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 158,890 shares of the transportation company’s stock worth $5,486,000 after buying an additional 11,441 shares during the period. Finally, Vinva Investment Management Ltd increased its stake in CSX by 14.5% in the 3rd quarter. Vinva Investment Management Ltd now owns 88,931 shares of the transportation company’s stock worth $3,071,000 after buying an additional 11,244 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Up 0.2 %

Shares of CSX opened at $36.55 on Monday. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. CSX Co. has a 52-week low of $31.72 and a 52-week high of $40.12. The company has a market cap of $70.48 billion, a PE ratio of 19.65, a P/E/G ratio of 2.32 and a beta of 1.19. The business has a fifty day moving average of $34.70 and a 200 day moving average of $34.03.

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

CSX Dividend Announcement

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 issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.31%. CSX’s payout ratio is 25.81%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. BMO Capital Markets lowered their price objective on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Wells Fargo & Company dropped their price target on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. Benchmark reiterated a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Stephens lowered their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Finally, Stifel Nicolaus cut their target price on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.