First Trust Direct Indexing L.P. Buys 4,266 Shares of CSX Co. (NASDAQ:CSX)

First Trust Direct Indexing L.P. increased its stake in shares of CSX Co. (NASDAQ:CSX) by 7.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 63,317 shares of the transportation company’s stock after acquiring an additional 4,266 shares during the period. First Trust Direct Indexing L.P.’s holdings in CSX were worth $2,186,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pathway Financial Advisers LLC raised its stake in CSX by 3,325.7% in the third quarter. Pathway Financial Advisers LLC now owns 459,006 shares of the transportation company’s stock valued at $15,849,000 after buying an additional 445,607 shares during the period. Childress Capital Advisors LLC raised its stake in CSX by 6.3% in the third quarter. Childress Capital Advisors LLC now owns 6,742 shares of the transportation company’s stock valued at $233,000 after buying an additional 397 shares during the period. Fidelis Capital Partners LLC raised its stake in CSX by 31.6% in the third quarter. Fidelis Capital Partners LLC now owns 42,286 shares of the transportation company’s stock valued at $1,420,000 after buying an additional 10,147 shares during the period. Fortitude Family Office LLC raised its stake in CSX by 43.4% in the third quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock valued at $38,000 after buying an additional 336 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its stake in CSX by 109.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 24,591 shares of the transportation company’s stock valued at $849,000 after buying an additional 12,837 shares during the period. Institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CSX. Benchmark reiterated a “buy” rating and set a $40.00 target price on shares of CSX in a research note on Wednesday, August 7th. JPMorgan Chase & Co. increased their target price on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. BMO Capital Markets lowered their target price on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Susquehanna lowered their target price on CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research note on Thursday, October 17th. Finally, Evercore ISI lowered their target price 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 investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.61.

CSX Trading Up 0.9 %

Shares of CSX stock opened at $33.54 on Thursday. The stock’s fifty day moving average price is $34.01 and its two-hundred day moving average price is $33.81. The company has a market cap of $65.57 billion, a PE ratio of 18.43, a P/E/G ratio of 1.90 and a beta of 1.19. CSX Co. has a fifty-two week low of $29.28 and a fifty-two week high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16.

CSX (NASDAQ:CSX) last issued its earnings results 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). The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The company’s revenue for the quarter 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. Equities analysts predict that CSX Co. will post 1.93 EPS for the current fiscal 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 paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is 26.37%.

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.