Whitener Capital Management Inc. Acquires 360 Shares of CSX Co. (NASDAQ:CSX)

Whitener Capital Management Inc. raised its holdings in shares of CSX Co. (NASDAQ:CSX) by 1.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,490 shares of the transportation company’s stock after acquiring an additional 360 shares during the period. Whitener Capital Management Inc.’s holdings in CSX were worth $811,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CSX. Itau Unibanco Holding S.A. bought a new position in shares of CSX in the second quarter worth approximately $26,000. MFA Wealth Advisors LLC bought a new position in shares of CSX in the second quarter worth approximately $27,000. Fairscale Capital LLC bought a new position in shares of CSX in the second quarter worth approximately $32,000. Morton Brown Family Wealth LLC bought a new position in shares of CSX in the third quarter worth approximately $31,000. Finally, TFC Financial Management Inc. grew its holdings in shares of CSX by 72.4% in the second quarter. TFC Financial Management Inc. now owns 1,048 shares of the transportation company’s stock worth $35,000 after purchasing an additional 440 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

CSX Stock Performance

Shares of CSX stock opened at $33.39 on Friday. 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 firm has a market capitalization of $64.39 billion, a P/E ratio of 17.95, a P/E/G ratio of 2.12 and a beta of 1.19. The business has a fifty day simple moving average of $34.01 and a two-hundred day simple moving average of $33.79. CSX Co. has a 12 month low of $29.64 and a 12 month high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 EPS. On average, equities analysts forecast that CSX Co. will post 1.86 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business 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 $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio is presently 25.81%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Stifel Nicolaus cut their target price on shares of CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Royal Bank of Canada cut their target price on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Thursday, October 17th. Evercore ISI cut their target price on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Susquehanna cut their price target on shares of CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Thursday, October 17th. Finally, Wells Fargo & Company cut their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” 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 issued a buy rating to the company. According to MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.61.

CSX 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.