Aviance Capital Partners LLC Increases Holdings in CSX Co. (NASDAQ:CSX)

Aviance Capital Partners LLC boosted its position in CSX Co. (NASDAQ:CSX) by 11.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,119 shares of the transportation company’s stock after purchasing an additional 3,402 shares during the period. Aviance Capital Partners LLC’s holdings in CSX were worth $1,144,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Western Wealth Management LLC grew its position in shares of CSX by 0.8% in the second 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 during the last quarter. TriaGen Wealth Management LLC grew its holdings in CSX by 2.7% during the 2nd quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock valued at $385,000 after buying an additional 300 shares during the last quarter. Lake Street Advisors Group LLC increased its position in 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. raised 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 worth $1,222,000 after acquiring an additional 309 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. boosted its stake in shares of CSX by 33.7% during the third quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company’s stock valued at $43,000 after acquiring an additional 316 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Trading Down 1.1 %

Shares of NASDAQ CSX opened at $34.60 on Wednesday. The stock has a market capitalization of $66.72 billion, a P/E ratio of 18.60, a PEG ratio of 2.23 and a beta of 1.19. The stock’s 50 day moving average price is $34.37 and its two-hundred day moving average price is $33.92. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. CSX Co. has a 52-week low of $31.44 and a 52-week high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The firm 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 earnings per share. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, analysts anticipate that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently disclosed 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio is presently 25.81%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Susquehanna cut their price objective on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research report on Thursday, October 17th. TD Cowen cut their price objective on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Evercore ISI reduced their target price on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Barclays boosted their price target on CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Loop Capital lowered their price objective on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.