Valley Wealth Managers Inc. Acquires 480 Shares of CSX Co. (NASDAQ:CSX)

Valley Wealth Managers Inc. increased its holdings in shares of CSX Co. (NASDAQ:CSX) by 177.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 750 shares of the transportation company’s stock after acquiring an additional 480 shares during the period. Valley Wealth Managers Inc.’s holdings in CSX were worth $26,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Banque Cantonale Vaudoise lifted its holdings in shares of CSX by 149.1% during the second quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock valued at $575,000 after acquiring an additional 10,301 shares during the period. Ascent Group LLC lifted its holdings in CSX by 559.7% during the 1st quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock valued at $2,179,000 after purchasing an additional 49,869 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted 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 valued at $16,139,000 after buying an additional 80,423 shares in the last quarter. Principal Financial Group Inc. grew its stake in CSX by 3.4% during the third quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company’s stock worth $81,095,000 after buying an additional 77,488 shares during the last quarter. Finally, William B. Walkup & Associates Inc. bought a new stake in CSX during the second quarter worth about $867,000. Institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on CSX shares. Wells Fargo & Company reduced their target price on CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. TD Cowen reduced their price objective on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Evercore ISI lowered their target price on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Stifel Nicolaus cut their price target on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Finally, Loop Capital decreased their price objective on shares of CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Seven 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, CSX presently has an average rating of “Moderate Buy” and an average price target of $38.78.

CSX Trading Down 1.4 %

NASDAQ CSX opened at $35.13 on Friday. CSX Co. has a 12 month low of $30.86 and a 12 month high of $40.12. The stock has a 50-day simple moving average of $34.32 and a 200 day simple moving average of $33.89. 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 has a market capitalization of $67.75 billion, a PE ratio of 18.89, a P/E/G ratio of 2.32 and a beta of 1.19.

CSX (NASDAQ:CSX) last announced 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 net margin of 24.77% and a return on equity of 28.92%. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same period last year, the company earned $0.42 earnings per share. The business’s revenue was up 1.3% compared to the same quarter last year. Research analysts forecast that CSX Co. will post 1.84 EPS for the current year.

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.37%. CSX’s dividend 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.