Castle Wealth Management LLC Grows Stock Holdings in CSX Co. (NASDAQ:CSX)

Castle Wealth Management LLC grew its stake in CSX Co. (NASDAQ:CSX) by 11.9% in the third quarter, Holdings Channel.com reports. The firm owned 20,676 shares of the transportation company’s stock after acquiring an additional 2,201 shares during the quarter. Castle Wealth Management LLC’s holdings in CSX were worth $714,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CSX. Banque Cantonale Vaudoise grew its stake in shares of CSX by 149.1% in the 2nd quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock valued at $575,000 after buying an additional 10,301 shares during the period. Ascent Group LLC lifted its holdings in CSX by 559.7% in the first quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock valued at $2,179,000 after acquiring an additional 49,869 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in CSX by 20.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock worth $16,139,000 after acquiring an additional 80,423 shares during the period. PFG Advisors increased its stake in CSX by 2.1% during the first quarter. PFG Advisors now owns 18,880 shares of the transportation company’s stock worth $700,000 after acquiring an additional 387 shares during the last quarter. Finally, Sei Investments Co. raised its position in CSX by 4.2% in the first quarter. Sei Investments Co. now owns 597,426 shares of the transportation company’s stock valued at $22,146,000 after purchasing an additional 23,938 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CSX shares. Wells Fargo & Company lowered their price target on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Susquehanna lowered their target price on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Thursday, October 17th. Stephens reduced their price target on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Loop Capital lowered their price objective on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Finally, Citigroup started coverage on CSX in a research report on Wednesday, October 9th. They issued a “buy” rating and a $42.00 target price on the stock. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.61.

CSX Stock Down 1.6 %

CSX stock opened at $36.28 on Thursday. CSX Co. has a twelve month low of $30.13 and a twelve month high of $40.12. The stock has a market cap of $69.96 billion, a P/E ratio of 19.83, a PEG ratio of 2.10 and a beta of 1.19. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The company’s 50 day moving average is $34.08 and its two-hundred day moving average is $33.80.

CSX (NASDAQ:CSX) last announced its earnings results 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). The business had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the business posted $0.42 earnings per share. Research analysts expect that CSX Co. will post 1.86 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently announced 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is currently 25.81%.

About CSX

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.