Borer Denton & Associates Inc. Buys 3,910 Shares of CSX Co. (NASDAQ:CSX)

Borer Denton & Associates Inc. increased its stake in shares of CSX Co. (NASDAQ:CSX) by 46.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,349 shares of the transportation company’s stock after acquiring an additional 3,910 shares during the quarter. Borer Denton & Associates Inc.’s holdings in CSX were worth $426,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Larson Financial Group LLC raised its stake in CSX by 20.2% during the 3rd quarter. Larson Financial Group LLC now owns 5,957 shares of the transportation company’s stock worth $206,000 after buying an additional 1,000 shares during the period. StoneX Group Inc. raised its position in shares of CSX by 4.0% during the third quarter. StoneX Group Inc. now owns 39,651 shares of the transportation company’s stock worth $1,369,000 after purchasing an additional 1,519 shares during the period. Cerity Partners LLC lifted its holdings in shares of CSX by 21.3% in the 3rd quarter. Cerity Partners LLC now owns 289,861 shares of the transportation company’s stock worth $10,009,000 after purchasing an additional 50,913 shares in the last quarter. Great Valley Advisor Group Inc. grew its position in CSX by 14.4% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 25,899 shares of the transportation company’s stock valued at $894,000 after purchasing an additional 3,252 shares during the period. Finally, Financial Council LLC bought a new stake in CSX during the 3rd quarter valued at $369,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Up 1.2 %

CSX opened at $35.78 on Friday. The business’s fifty day simple moving average is $34.48 and its 200 day simple moving average is $33.94. CSX Co. has a 52 week low of $31.65 and a 52 week high of $40.12. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The stock has a market cap of $69.00 billion, a PE ratio of 19.24, a P/E/G ratio of 2.24 and a beta of 1.19.

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 the consensus estimate of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. CSX’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 earnings per share. As a group, research analysts expect that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 25.81%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CSX shares. Susquehanna lowered their target price 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. Loop Capital lowered their price target on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. JPMorgan Chase & Co. upped their target price on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Benchmark reissued a “buy” rating and set a $40.00 price target on shares of CSX in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company decreased their price objective on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.78.

About CSX

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.