D.A. Davidson & CO. Has $12.26 Million Stock Holdings in CSX Co. (NASDAQ:CSX)

D.A. Davidson & CO. increased its stake in shares of CSX Co. (NASDAQ:CSX) by 6.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 354,895 shares of the transportation company’s stock after purchasing an additional 20,522 shares during the quarter. D.A. Davidson & CO.’s holdings in CSX were worth $12,255,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new position in CSX in the 2nd quarter valued at approximately $26,000. Valley Wealth Managers Inc. increased its position in CSX by 177.8% in the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 480 shares during the period. MFA Wealth Advisors LLC acquired a new position in CSX in the 2nd quarter valued at approximately $27,000. Morton Brown Family Wealth LLC acquired a new position in CSX in the 3rd quarter valued at approximately $31,000. Finally, Fairscale Capital LLC acquired a new position in CSX in the 2nd quarter valued at approximately $32,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Stifel Nicolaus decreased their price target on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Stephens reduced their price objective on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. TD Cowen reduced their price objective on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Royal Bank of Canada reduced their price objective on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. Finally, Loop Capital reduced their price objective on shares of CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus target price of $38.78.

CSX Stock Up 0.2 %

Shares of NASDAQ CSX opened at $36.69 on Wednesday. CSX Co. has a 12-month low of $31.65 and a 12-month high of $40.12. The firm has a market cap of $70.75 billion, a PE ratio of 19.73, a P/E/G ratio of 2.27 and a beta of 1.19. The company’s fifty day simple moving average is $34.59 and its 200 day simple moving average is $33.97. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last released 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 business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same period last year, the business posted $0.42 earnings per share. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, sell-side analysts forecast that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio (DPR) 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.