Pathway Financial Advisers LLC Boosts Stock Holdings in CSX Co. (NASDAQ:CSX)

Pathway Financial Advisers LLC raised its holdings in shares of CSX Co. (NASDAQ:CSX) by 3,325.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 459,006 shares of the transportation company’s stock after purchasing an additional 445,607 shares during the period. Pathway Financial Advisers LLC’s holdings in CSX were worth $15,849,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CSX. Claro Advisors LLC bought a new stake in shares of CSX in the 1st quarter valued at about $211,000. Azzad Asset Management Inc. ADV boosted its holdings in shares of CSX by 1.5% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 71,084 shares of the transportation company’s stock valued at $2,635,000 after buying an additional 1,033 shares in the last quarter. Norden Group LLC boosted its holdings in shares of CSX by 3,713.7% in the 1st quarter. Norden Group LLC now owns 303,072 shares of the transportation company’s stock valued at $11,235,000 after buying an additional 295,125 shares in the last quarter. Massachusetts Wealth Management boosted its holdings in shares of CSX by 5.6% in the 1st quarter. Massachusetts Wealth Management now owns 37,540 shares of the transportation company’s stock valued at $1,392,000 after buying an additional 2,000 shares in the last quarter. Finally, First Trust Direct Indexing L.P. boosted its holdings in shares of CSX by 13.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 48,775 shares of the transportation company’s stock valued at $1,808,000 after buying an additional 5,808 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

CSX has been the topic of a number of recent analyst reports. Bank of America cut shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Monday, July 8th. JPMorgan Chase & Co. lifted their target price on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Royal Bank of Canada lowered their target price on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. TD Cowen lowered their target price on shares of CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Finally, Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of CSX in a research note on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.61.

CSX Price Performance

NASDAQ:CSX opened at $33.25 on Wednesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The firm has a market cap of $65.00 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. The company has a 50 day moving average price of $34.02 and a 200-day moving average price of $33.82. CSX Co. has a 1-year low of $29.26 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last posted its earnings results 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 firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. CSX’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the firm earned $0.42 earnings per share. Equities research 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 issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is 26.37%.

CSX 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.