Brass Tax Wealth Management Inc. Buys 444 Shares of CSX Co. (NASDAQ:CSX)

Brass Tax Wealth Management Inc. boosted its stake in CSX Co. (NASDAQ:CSX) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,000 shares of the transportation company’s stock after acquiring an additional 444 shares during the period. Brass Tax Wealth Management Inc.’s holdings in CSX were worth $449,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its position in shares of CSX by 0.6% in the 3rd quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock worth $2,840,117,000 after purchasing an additional 455,258 shares during the last quarter. Geode Capital Management LLC boosted its holdings in CSX by 0.5% in the third quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock worth $1,407,087,000 after purchasing an additional 190,346 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in CSX by 3.6% in the third quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock worth $851,404,000 after purchasing an additional 857,302 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in CSX by 6.6% in the second quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock worth $573,128,000 after purchasing an additional 1,060,204 shares during the last quarter. Finally, FMR LLC boosted its holdings in CSX by 10.2% in the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after purchasing an additional 1,447,651 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CSX. Barclays increased their price target on shares of CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Stifel Nicolaus decreased their price target on shares of CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Evercore ISI decreased their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Wells Fargo & Company decreased their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Finally, Stephens decreased their price target on shares of CSX from $41.00 to $39.00 and set an “overweight” 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 assigned a buy rating to the company. According to data from MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and an average target price of $38.78.

CSX Price Performance

Shares of NASDAQ:CSX traded down $0.05 on Friday, reaching $33.63. The company’s stock had a trading volume of 2,169,451 shares, compared to its average volume of 11,608,029. CSX Co. has a 52-week low of $31.74 and a 52-week high of $40.12. The company has a market cap of $64.85 billion, a P/E ratio of 18.11, a PEG ratio of 2.24 and a beta of 1.20. The company has a 50-day simple moving average of $34.80 and a 200 day simple moving average of $34.09. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39.

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 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 for the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the previous year, the business earned $0.42 EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts anticipate that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Announces Dividend

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 $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) 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.