Blackston Financial Advisory Group LLC Raises Holdings in CSX Co. (NASDAQ:CSX)

Blackston Financial Advisory Group LLC raised its holdings in CSX Co. (NASDAQ:CSX) by 105.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,747 shares of the transportation company’s stock after purchasing an additional 7,570 shares during the quarter. Blackston Financial Advisory Group LLC’s holdings in CSX were worth $509,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CSX. Banque Cantonale Vaudoise lifted its position in CSX by 149.1% in the second 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 last quarter. Ascent Group LLC lifted its holdings in shares of CSX by 559.7% in the 1st quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock worth $2,179,000 after acquiring an additional 49,869 shares during the last quarter. PFG Advisors boosted its position in shares of CSX by 2.1% during the 1st quarter. PFG Advisors now owns 18,880 shares of the transportation company’s stock worth $700,000 after purchasing an additional 387 shares during the period. Sei Investments Co. increased its holdings in CSX by 4.2% in the 1st 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 last quarter. Finally, William B. Walkup & Associates Inc. purchased a new stake in CSX in the second quarter valued at approximately $867,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

CSX stock opened at $33.10 on Friday. The business has a 50 day simple moving average of $34.04 and a 200-day simple moving average of $33.90. The company has a market capitalization of $64.71 billion, a P/E ratio of 18.19, a PEG ratio of 1.90 and a beta of 1.19. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 29.11% and a net margin of 24.52%. The business had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same period in the previous year, the business posted $0.42 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities analysts anticipate that CSX Co. will post 1.93 EPS for the current year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.45%. CSX’s dividend payout ratio is currently 26.37%.

Analyst Upgrades and Downgrades

CSX has been the subject of several research analyst reports. Sanford C. Bernstein raised their price target on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Benchmark reiterated a “buy” rating and set a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. TD Cowen lowered their price objective on shares of CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Stifel Nicolaus reduced 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. Finally, Evercore ISI reduced their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Seven equities 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, the stock presently has an average rating of “Moderate Buy” and an average price target 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.