Catalyst Financial Partners LLC Grows Stock Position in CSX Co. (NASDAQ:CSX)

Catalyst Financial Partners LLC increased its holdings in shares of CSX Co. (NASDAQ:CSX) by 44.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,297 shares of the transportation company’s stock after buying an additional 6,266 shares during the quarter. Catalyst Financial Partners LLC’s holdings in CSX were worth $701,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CSX. First Trust Direct Indexing L.P. increased its stake in CSX by 13.5% during the first quarter. First Trust Direct Indexing L.P. now owns 48,775 shares of the transportation company’s stock worth $1,808,000 after acquiring an additional 5,808 shares during the last quarter. New Century Financial Group LLC acquired a new stake in CSX during the first quarter worth about $226,000. Norden Group LLC increased its stake in CSX by 137.9% during the first quarter. Norden Group LLC now owns 18,903 shares of the transportation company’s stock worth $701,000 after acquiring an additional 10,956 shares during the last quarter. J.W. Cole Advisors Inc. increased its stake in CSX by 64.7% during the first quarter. J.W. Cole Advisors Inc. now owns 36,303 shares of the transportation company’s stock worth $1,343,000 after acquiring an additional 14,260 shares during the last quarter. Finally, Diversify Advisory Services LLC acquired a new stake in CSX during the first quarter worth about $1,088,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CSX has been the subject of several research analyst reports. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Monday, July 8th. Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of CSX in a research note on Wednesday, August 7th. Susquehanna lowered their target price on CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Thursday, October 17th. Barclays lowered their target price on CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. Finally, Evercore ISI lowered their target price on CSX from $38.00 to $37.00 and set an “outperform” 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 stock. Based on data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and an average price target of $38.61.

CSX Price Performance

Shares of CSX opened at $33.54 on Thursday. The firm has a market cap of $65.57 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.90 and a beta of 1.19. The stock has a 50 day moving average of $34.01 and a 200-day moving average of $33.81. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. CSX Co. has a 52 week low of $29.28 and a 52 week high of $40.12.

CSX (NASDAQ:CSX) last issued its earnings results 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 during the quarter, compared to analyst estimates of $3.68 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. CSX’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 EPS. As a group, analysts forecast that CSX Co. will post 1.93 EPS for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. CSX’s payout ratio is 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.