Hudson Valley Investment Advisors Inc. ADV Purchases 19,642 Shares of CSX Co. (NASDAQ:CSX)

Hudson Valley Investment Advisors Inc. ADV grew its stake in CSX Co. (NASDAQ:CSX) by 8.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 255,765 shares of the transportation company’s stock after acquiring an additional 19,642 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in CSX were worth $8,832,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Western Wealth Management LLC increased its position in CSX by 0.8% during the second quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock valued at $1,208,000 after acquiring an additional 295 shares during the last quarter. TriaGen Wealth Management LLC increased its position in CSX by 2.7% during the second quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock valued at $385,000 after acquiring an additional 300 shares during the last quarter. Team Hewins LLC increased its position in CSX by 1.7% during the first quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock valued at $696,000 after acquiring an additional 306 shares during the last quarter. Lake Street Advisors Group LLC increased its position in CSX by 1.8% in the third quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock worth $595,000 after buying an additional 306 shares in the last quarter. Finally, J.W. Cole Advisors Inc. increased its position in CSX by 0.9% in the third quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock worth $1,222,000 after buying an additional 309 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. JPMorgan Chase & Co. upped their price target on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Evercore ISI dropped their price target on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Sanford C. Bernstein raised their price objective on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. TD Cowen lowered their price objective on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Finally, Citigroup assumed coverage on CSX in a research note on Wednesday, October 9th. They issued a “buy” rating and a $42.00 price objective for the company. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.61.

CSX Stock Up 0.9 %

CSX stock opened at $33.54 on Thursday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The stock has a market capitalization of $65.57 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.90 and a beta of 1.19. CSX Co. has a 1-year low of $29.28 and a 1-year high of $40.12. The business has a fifty day moving average price of $34.01 and a 200-day moving average price of $33.81.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same period in the prior year, the firm posted $0.42 EPS. The business’s revenue was up 1.3% compared to the same quarter last year. Equities research analysts forecast that CSX Co. will post 1.93 EPS for the current fiscal year.

CSX Dividend Announcement

The business 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 dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%. CSX’s payout ratio is currently 26.37%.

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.