D.B. Root & Company LLC Buys 4,369 Shares of CSX Co. (NASDAQ:CSX)

D.B. Root & Company LLC raised its stake in shares of CSX Co. (NASDAQ:CSX) by 9.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,742 shares of the transportation company’s stock after acquiring an additional 4,369 shares during the quarter. D.B. Root & Company LLC’s holdings in CSX were worth $1,718,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Western Wealth Management LLC increased its stake in shares of CSX by 0.8% in the second quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock valued at $1,208,000 after buying an additional 295 shares in the last quarter. TriaGen Wealth Management LLC increased its stake in shares of CSX by 2.7% in the second quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock valued at $385,000 after buying an additional 300 shares in the last quarter. Lake Street Advisors Group LLC increased its stake in shares of CSX by 1.8% in the third quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock valued at $595,000 after buying an additional 306 shares in the last quarter. J.W. Cole Advisors Inc. increased its stake in shares of CSX by 0.9% in the third quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock valued at $1,222,000 after buying an additional 309 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. increased its stake in shares of CSX by 33.7% in the third quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company’s stock valued at $43,000 after buying an additional 316 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CSX. BMO Capital Markets lowered their target price on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Susquehanna lowered their price objective on CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research report on Thursday, October 17th. Barclays lowered their price objective on CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Finally, Evercore ISI lowered their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and a consensus target price of $38.61.

CSX Trading Up 8.4 %

NASDAQ CSX opened at $36.88 on Thursday. The stock has a market capitalization of $71.12 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 2.10 and a beta of 1.19. The stock’s 50 day moving average price is $34.08 and its two-hundred day moving average price is $33.80. 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 Co. has a 52 week low of $30.00 and a 52 week high of $40.12.

CSX (NASDAQ:CSX) last released its earnings results 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 during the quarter, compared to the consensus estimate of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The company’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. As a group, analysts anticipate that CSX Co. will post 1.86 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently announced 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. This represents a $0.48 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s payout ratio is 25.81%.

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.