CSX Co. (NASDAQ:CSX) Shares Bought by Carnegie Investment Counsel

Carnegie Investment Counsel grew its stake in CSX Co. (NASDAQ:CSX) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 603,577 shares of the transportation company’s stock after buying an additional 18,105 shares during the period. Carnegie Investment Counsel’s holdings in CSX were worth $20,842,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new stake in CSX during the 2nd quarter worth $26,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of CSX during the first quarter worth about $29,000. MFA Wealth Advisors LLC purchased a new position in shares of CSX during the second quarter worth about $27,000. Fairscale Capital LLC acquired a new position in CSX in the 2nd quarter valued at about $32,000. Finally, Valued Wealth Advisors LLC raised its stake in CSX by 172.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 594 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Evercore ISI upgraded shares of CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Stephens restated an “overweight” rating and set a $42.00 target price on shares of CSX in a research report on Tuesday, August 6th. Benchmark reaffirmed a “buy” rating and issued a $40.00 target price on shares of CSX in a report on Wednesday, August 7th. Finally, Susquehanna boosted their price target on CSX from $41.00 to $42.00 and gave the stock a “positive” rating in a research note on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and a consensus target price of $39.19.

CSX Price Performance

NASDAQ:CSX opened at $34.96 on Friday. The firm has a market cap of $68.34 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The company’s 50-day moving average is $33.93 and its two-hundred day moving average is $34.03.

CSX (NASDAQ:CSX) last released its earnings results on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. CSX had a net margin of 24.52% and a return on equity of 29.11%. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the previous year, the company earned $0.49 EPS. CSX’s revenue for the quarter was up .0% on a year-over-year basis. Research analysts expect that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio 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.