Pathway Financial Advisers LLC Buys 445,607 Shares of CSX Co. (NASDAQ:CSX)

Pathway Financial Advisers LLC lifted its stake in shares of CSX Co. (NASDAQ:CSX) by 3,325.7% during the third quarter, according to the company in its most recent 13F 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 quarter. Pathway Financial Advisers LLC’s holdings in CSX were worth $15,849,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. bought a new position in shares of CSX in the second quarter worth $26,000. MFA Wealth Advisors LLC bought a new position in CSX in the 2nd quarter worth about $27,000. Fairscale Capital LLC purchased a new stake in shares of CSX in the 2nd quarter valued at about $32,000. Strategic Financial Concepts LLC bought a new stake in shares of CSX during the 2nd quarter valued at about $33,000. Finally, Valued Wealth Advisors LLC grew its holdings in shares of CSX by 172.7% during the first quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock worth $35,000 after purchasing an additional 594 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

CSX has been the topic of a number of research reports. Stephens lowered their price target on CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Bank of America downgraded CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Monday, July 8th. 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. JPMorgan Chase & Co. boosted their price objective on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Finally, BMO Capital Markets reduced their target price on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.61.

CSX Stock Up 0.5 %

CSX stock traded up $0.17 during trading on Friday, hitting $33.27. 14,067,075 shares of the stock traded hands, compared to its average volume of 11,651,126. The stock has a market cap of $65.04 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The firm’s 50 day moving average is $34.03 and its two-hundred day moving average is $33.87.

CSX (NASDAQ:CSX) last posted its earnings results 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 business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 EPS. On average, sell-side analysts anticipate that CSX Co. will post 1.93 EPS for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.44%. CSX’s dividend payout ratio is presently 26.37%.

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.