RIA Advisory Group LLC Takes $732,000 Position in CSX Co. (NASDAQ:CSX)

RIA Advisory Group LLC bought a new stake in CSX Co. (NASDAQ:CSX) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 21,195 shares of the transportation company’s stock, valued at approximately $732,000.

Other hedge funds have also modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of CSX during the second quarter worth about $26,000. Valley Wealth Managers Inc. grew its position in shares of CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after acquiring an additional 480 shares during the last quarter. MFA Wealth Advisors LLC purchased a new position in shares of CSX during the second quarter worth approximately $27,000. Morton Brown Family Wealth LLC purchased a new position in CSX in the 3rd quarter valued at $31,000. Finally, Fairscale Capital LLC purchased a new position in CSX in the 2nd quarter valued at $32,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Trading Down 1.4 %

Shares of NASDAQ:CSX traded down $0.50 during trading hours on Friday, hitting $35.13. 10,597,925 shares of the company’s stock traded hands, compared to its average volume of 11,734,151. The business has a fifty day moving average price of $34.32 and a 200-day moving average price of $33.89. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. CSX Co. has a 1 year low of $30.86 and a 1 year high of $40.12. The firm has a market capitalization of $67.75 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 2.32 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 earnings per share 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 analysts’ expectations of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. CSX’s quarterly revenue 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 analysts expect that CSX Co. will post 1.84 earnings per share for the current year.

CSX Announces Dividend

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 issued a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.37%. CSX’s payout ratio is 25.81%.

Analyst Ratings Changes

CSX has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their target price 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. BMO Capital Markets cut their target price on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Wells Fargo & Company cut their target price on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. Stephens cut their target price 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. Finally, Citigroup boosted their target price on shares of CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday. Seven research 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $38.78.

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.