CSX Co. (NASDAQ:CSX) Shares Purchased by Lowe Brockenbrough & Co. Inc.

Lowe Brockenbrough & Co. Inc. boosted its stake in shares of CSX Co. (NASDAQ:CSX) by 1.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 29,766 shares of the transportation company’s stock after purchasing an additional 448 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in CSX were worth $1,028,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new position in shares of CSX in the second quarter worth $26,000. MFA Wealth Advisors LLC bought a new stake in shares of CSX in the 2nd quarter valued at approximately $27,000. Fairscale Capital LLC acquired a new position in CSX in the second quarter worth approximately $32,000. Morton Brown Family Wealth LLC bought a new position in CSX during the third quarter valued at approximately $31,000. Finally, TFC Financial Management Inc. lifted its stake in CSX by 72.4% in the second quarter. TFC Financial Management Inc. now owns 1,048 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 440 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CSX shares. Citigroup started coverage on shares of CSX in a report on Wednesday, October 9th. They set a “buy” rating and a $42.00 price target on the stock. Loop Capital decreased their price target on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Barclays cut their price objective on CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. Benchmark reaffirmed a “buy” rating and set a $40.00 target price on shares of CSX in a research report on Wednesday, August 7th. Finally, TD Cowen dropped their price target on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.61.

CSX Stock Down 0.7 %

CSX stock opened at $33.39 on Friday. The business’s 50-day simple moving average is $34.01 and its 200 day simple moving average is $33.79. 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 $64.39 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 2.11 and a beta of 1.19. CSX Co. has a twelve month low of $29.64 and a twelve month high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. CSX’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 EPS. On average, research analysts anticipate that CSX Co. will post 1.86 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s payout ratio is 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.