First Business Financial Services Inc. Boosts Holdings in CSX Co. (NASDAQ:CSX)

First Business Financial Services Inc. increased its holdings in shares of CSX Co. (NASDAQ:CSX) by 8.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 60,236 shares of the transportation company’s stock after acquiring an additional 4,767 shares during the period. First Business Financial Services Inc.’s holdings in CSX were worth $2,080,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Western Wealth Management LLC increased its stake in CSX by 0.8% during the 2nd quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock valued at $1,208,000 after purchasing an additional 295 shares in the last quarter. TriaGen Wealth Management LLC boosted its holdings in CSX by 2.7% in the 2nd quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock worth $385,000 after buying an additional 300 shares during the last quarter. Lake Street Advisors Group LLC grew its holdings in shares of CSX by 1.8% during 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. J.W. Cole Advisors Inc. increased its holdings in shares of CSX by 0.9% in the third quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock valued at $1,222,000 after purchasing an additional 309 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. boosted its holdings in CSX by 33.7% in the 3rd quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 316 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Performance

Shares of NASDAQ CSX opened at $35.63 on Friday. The stock has a 50 day moving average price of $34.26 and a 200 day moving average price of $33.87. The stock has a market capitalization of $68.71 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 2.32 and a beta of 1.19. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. CSX Co. has a 52 week low of $30.86 and a 52 week high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings data 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 business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. CSX’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 EPS. Analysts predict that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.35%. CSX’s dividend payout ratio is presently 25.81%.

Analysts Set New Price Targets

Several research firms have recently commented on CSX. Barclays raised their price objective on shares of CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Wednesday. TD Cowen reduced their price objective on shares of CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Benchmark restated a “buy” rating and set a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. Stifel Nicolaus dropped their price target on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Finally, Loop Capital lowered their target price on shares of CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.