Austin Private Wealth LLC Acquires 423 Shares of CSX Co. (NASDAQ:CSX)

Austin Private Wealth LLC increased its holdings in shares of CSX Co. (NASDAQ:CSX) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,647 shares of the transportation company’s stock after acquiring an additional 423 shares during the period. Austin Private Wealth LLC’s holdings in CSX were worth $402,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CSX. Itau Unibanco Holding S.A. purchased a new stake in shares of CSX in the 2nd quarter worth approximately $26,000. MFA Wealth Advisors LLC purchased a new stake in shares of CSX in the second quarter worth $27,000. Fairscale Capital LLC bought a new position in shares of CSX during the second quarter valued at $32,000. Morton Brown Family Wealth LLC purchased a new position in shares of CSX in the 3rd quarter worth about $31,000. Finally, TFC Financial Management Inc. boosted its stake in CSX by 72.4% in the 2nd quarter. TFC Financial Management Inc. now owns 1,048 shares of the transportation company’s stock worth $35,000 after purchasing an additional 440 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CSX shares. BMO Capital Markets reduced their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Bank of America lowered shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Monday, July 8th. JPMorgan Chase & Co. increased their target price on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Susquehanna lowered their price target on CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Thursday, October 17th. Finally, Royal Bank of Canada lowered their target price 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. Seven 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.61.

CSX Stock Performance

Shares of CSX stock traded up $0.63 during trading hours on Tuesday, reaching $33.99. 795,898 shares of the company traded hands, compared to its average volume of 11,591,663. The firm has a 50-day moving average price of $34.01 and a 200 day moving average price of $33.78. The company has a market cap of $65.55 billion, a P/E ratio of 17.94, a P/E/G ratio of 2.10 and a beta of 1.19. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. CSX Co. has a 12-month low of $30.00 and a 12-month high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share 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 analysts’ expectations 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 period in the prior year, the firm earned $0.42 EPS. As a group, sell-side analysts predict that CSX Co. will post 1.86 earnings per share for the current fiscal year.

CSX Announces Dividend

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 issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. CSX’s dividend payout ratio is presently 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.