Planning Capital Management Corp Purchases 316 Shares of CSX Co. (NASDAQ:CSX)

Planning Capital Management Corp increased its stake in shares of CSX Co. (NASDAQ:CSX) by 16.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,237 shares of the transportation company’s stock after buying an additional 316 shares during the period. Planning Capital Management Corp’s holdings in CSX were worth $77,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of CSX. ICICI Prudential Asset Management Co Ltd grew its holdings in shares of CSX by 17.9% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 25,309 shares of the transportation company’s stock valued at $874,000 after purchasing an additional 3,834 shares during the last quarter. Community Bank & Trust Waco Texas boosted its stake in shares of CSX by 9.2% in the 3rd quarter. Community Bank & Trust Waco Texas now owns 56,867 shares of the transportation company’s stock valued at $1,964,000 after purchasing an additional 4,804 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of CSX by 13.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,957,688 shares of the transportation company’s stock valued at $67,599,000 after acquiring an additional 238,079 shares during the period. Barnett & Company Inc. raised its holdings in CSX by 10.2% during the third quarter. Barnett & Company Inc. now owns 61,650 shares of the transportation company’s stock worth $2,129,000 after buying an additional 5,700 shares during the last quarter. Finally, Aptus Capital Advisors LLC raised its holdings in CSX by 21.4% during the third quarter. Aptus Capital Advisors LLC now owns 489,887 shares of the transportation company’s stock worth $16,916,000 after buying an additional 86,451 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Performance

CSX opened at $35.63 on Friday. The stock has a market capitalization of $68.71 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 2.29 and a beta of 1.19. The company has a fifty day moving average of $34.26 and a 200 day moving average of $33.87. CSX Co. has a fifty-two week low of $30.86 and a fifty-two week high of $40.12. 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 (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter last year, the business earned $0.42 EPS. CSX’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, sell-side analysts forecast that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently announced 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. This represents a $0.48 annualized dividend and a yield of 1.35%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is 25.81%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CSX shares. Barclays increased their price target on shares of CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Wednesday. TD Cowen cut their target price on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. JPMorgan Chase & Co. boosted their price target on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Stephens cut their price objective on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Finally, Loop Capital dropped their target price on shares of CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.