Gold Investment Management Ltd. Acquires 363 Shares of CSX Co. (NASDAQ:CSX)

Gold Investment Management Ltd. boosted its holdings in CSX Co. (NASDAQ:CSX) by 0.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 116,727 shares of the transportation company’s stock after acquiring an additional 363 shares during the period. CSX accounts for 1.7% of Gold Investment Management Ltd.’s holdings, making the stock its 17th biggest position. Gold Investment Management Ltd.’s holdings in CSX were worth $4,031,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new position in shares of CSX during the second quarter worth approximately $26,000. MFA Wealth Advisors LLC acquired a new position in CSX in the 2nd quarter valued at $27,000. Fairscale Capital LLC bought a new position in CSX during the 2nd quarter worth $32,000. Morton Brown Family Wealth LLC acquired a new stake in shares of CSX during the third quarter worth $31,000. Finally, TFC Financial Management Inc. boosted its position in shares of CSX by 72.4% in the second quarter. TFC Financial Management Inc. now owns 1,048 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 440 shares during the period. 73.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CSX shares. Stephens dropped their price objective on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. JPMorgan Chase & Co. lifted their price target 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. TD Cowen cut their price target on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Royal Bank of Canada lowered their price objective on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. Finally, Barclays cut their target price on CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.61.

CSX Trading Down 0.1 %

Shares of CSX stock opened at $35.51 on Friday. CSX Co. has a twelve month low of $30.13 and a twelve month high of $40.12. The stock’s fifty day simple moving average is $34.08 and its 200 day simple moving average is $33.80. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $68.48 billion, a P/E ratio of 19.12, a P/E/G ratio of 2.12 and a beta of 1.19.

CSX (NASDAQ:CSX) last released its quarterly 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 the consensus estimate of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 earnings per share. As a group, sell-side analysts predict that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.35%. CSX’s dividend payout ratio (DPR) is presently 25.81%.

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.