Pathway Financial Advisers LLC Takes $506,000 Position in CSX Co. (NASDAQ:CSX)

Pathway Financial Advisers LLC bought a new position in shares of CSX Co. (NASDAQ:CSX) during the first quarter, HoldingsChannel.com reports. The firm bought 13,656 shares of the transportation company’s stock, valued at approximately $506,000.

Several other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of CSX during the 4th quarter valued at approximately $757,276,000. Price T Rowe Associates Inc. MD boosted its stake in shares of CSX by 18.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock worth $2,246,893,000 after purchasing an additional 9,914,656 shares during the period. Capital International Investors grew its holdings in CSX by 14.3% during the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after purchasing an additional 5,041,679 shares during the last quarter. M&G Plc purchased a new stake in CSX in the 1st quarter worth about $126,089,000. Finally, Canada Pension Plan Investment Board lifted its stake in CSX by 58.1% in the first quarter. Canada Pension Plan Investment Board now owns 2,336,019 shares of the transportation company’s stock worth $86,596,000 after purchasing an additional 858,387 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. 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 reaffirmed a “buy” rating and issued a $40.00 price target on shares of CSX in a research note on Thursday, April 18th. Stifel Nicolaus boosted their price objective on shares of CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Jefferies Financial Group reduced their target price on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, April 18th. Finally, Wells Fargo & Company started coverage on CSX in a report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.14.

CSX Stock Performance

Shares of NASDAQ:CSX traded down $0.69 during trading on Friday, hitting $34.08. The stock had a trading volume of 13,305,920 shares, compared to its average volume of 10,860,391. The stock has a 50-day simple moving average of $33.56 and a two-hundred day simple moving average of $35.04. The stock has a market capitalization of $66.62 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 1.89 and a beta of 1.20. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a $0.12 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.41%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

CSX Company 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.