Financial Architects Inc reduced its holdings in CSX Co. (NASDAQ:CSX) by 8.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,079 shares of the transportation company’s stock after selling 200 shares during the period. Financial Architects Inc’s holdings in CSX were worth $144,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Krane Funds Advisors LLC acquired a new stake in shares of CSX in the second quarter worth approximately $25,000. SRS Capital Advisors Inc. acquired a new stake in shares of CSX in the second quarter worth approximately $32,000. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in shares of CSX by 88.5% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 426 shares of the transportation company’s stock worth $29,000 after acquiring an additional 200 shares during the last quarter. Kavar Capital Partners LLC acquired a new stake in shares of CSX in the second quarter worth approximately $35,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of CSX in the second quarter worth approximately $36,000. 77.82% of the stock is currently owned by institutional investors.
A number of analysts have recently issued reports on CSX shares. Barclays reaffirmed a “buy” rating and issued a $85.00 price target on shares of CSX in a research note on Thursday, October 3rd. TD Securities lifted their price target on CSX from $76.00 to $77.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. lowered CSX from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $83.00 to $76.00 in a research note on Friday, October 4th. They noted that the move was a valuation call. Wells Fargo & Co started coverage on CSX in a research note on Monday, October 28th. They issued a “market perform” rating and a $73.00 price target on the stock. Finally, Raymond James lowered their price target on CSX from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $77.38.
NASDAQ CSX traded down $0.23 on Friday, reaching $71.61. 2,860,900 shares of the company were exchanged, compared to its average volume of 5,233,964. CSX Co. has a fifty-two week low of $58.47 and a fifty-two week high of $80.73. The stock has a market capitalization of $56.29 billion, a P/E ratio of 18.65, a price-to-earnings-growth ratio of 1.34 and a beta of 1.22. The company has a current ratio of 1.41, a quick ratio of 1.33 and a debt-to-equity ratio of 1.35. The business’s fifty day moving average price is $70.21 and its 200 day moving average price is $72.39.
CSX (NASDAQ:CSX) last released its earnings results on Wednesday, October 16th. The transportation company reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.06. CSX had a return on equity of 27.67% and a net margin of 27.91%. The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the previous year, the firm posted $1.05 EPS. CSX’s revenue for the quarter was down 4.8% on a year-over-year basis. Equities research analysts forecast that CSX Co. will post 4.19 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.24 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.96 annualized dividend and a yield of 1.34%. CSX’s payout ratio is 25.00%.
CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
Further Reading: Depreciation
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