Main Street Financial Solutions LLC Has $820,000 Position in CSX Co. (NASDAQ:CSX)

Main Street Financial Solutions LLC decreased its position in CSX Co. (NASDAQ:CSX) by 2.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 23,755 shares of the transportation company’s stock after selling 707 shares during the quarter. Main Street Financial Solutions LLC’s holdings in CSX were worth $820,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new stake in CSX during the 2nd quarter valued at $26,000. MFA Wealth Advisors LLC bought a new stake in shares of CSX during the 2nd quarter valued at $27,000. Morton Brown Family Wealth LLC bought a new stake in CSX in the third quarter valued at about $31,000. Fairscale Capital LLC acquired a new stake in shares of CSX in the 2nd quarter valued at approximately $32,000. Finally, Strategic Financial Concepts LLC acquired a new stake in CSX in the second quarter worth $33,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Citigroup raised their price target on CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday. Stifel Nicolaus dropped their price target on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Evercore ISI reduced their price target on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. TD Cowen reduced their price target on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Finally, Loop Capital lowered their price target on CSX from $43.00 to $42.00 and set a “buy” rating on the stock 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.78.

CSX Stock Up 1.0 %

CSX stock opened at $36.48 on Thursday. CSX Co. has a 52 week low of $30.86 and a 52 week high of $40.12. The business has a 50-day simple moving average of $34.22 and a 200 day simple moving average of $33.85. 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 company has a market cap of $70.35 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 2.29 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its earnings results 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 firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. CSX’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 earnings per share. Sell-side analysts anticipate that CSX Co. will post 1.84 EPS for the current fiscal 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 paid a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.32%. CSX’s payout ratio is 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.