Nations Financial Group Inc. IA ADV Decreases Stake in CSX Co. (NASDAQ:CSX)

Nations Financial Group Inc. IA ADV decreased its holdings in shares of CSX Co. (NASDAQ:CSX) by 4.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,860 shares of the transportation company’s stock after selling 980 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in CSX were worth $686,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CSX. Itau Unibanco Holding S.A. acquired a new position in CSX during the second quarter worth $26,000. MFA Wealth Advisors LLC purchased a new stake in shares of CSX in the second quarter valued at about $27,000. Morton Brown Family Wealth LLC acquired a new stake in CSX during the third quarter worth about $31,000. Fairscale Capital LLC purchased a new position in CSX during the second quarter worth about $32,000. Finally, Strategic Financial Concepts LLC acquired a new position in CSX in the 2nd quarter valued at about $33,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CSX shares. Wells Fargo & Company reduced their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Stifel Nicolaus decreased their price target on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Stephens cut their price objective on CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. JPMorgan Chase & Co. upped their target price 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. Finally, BMO Capital Markets reduced their price target on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have assigned 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.

CSX Trading Up 1.0 %

NASDAQ:CSX opened at $36.48 on Thursday. The stock has a fifty day moving average price of $34.22 and a 200 day moving average price of $33.85. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a 12-month low of $30.86 and a 12-month high of $40.12. The firm has a market cap of $70.35 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 2.29 and a beta of 1.19.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The company had revenue of $3.62 billion for 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%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 earnings per share. Sell-side analysts anticipate that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 dividend yield of 1.32%. CSX’s dividend payout ratio (DPR) is currently 25.81%.

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.