41,777 Shares of CSX Corporation $CSX Purchased by M Holdings Securities Inc.

M Holdings Securities Inc. bought a new stake in CSX Corporation (NASDAQ:CSX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 41,777 shares of the transportation company’s stock, valued at approximately $2,146,000.

A number of other large investors have also modified their holdings of CSX. Avantax Planning Partners Inc. grew its holdings in shares of CSX by 16.5% in the 3rd quarter. Avantax Planning Partners Inc. now owns 14,061 shares of the transportation company’s stock worth $654,000 after purchasing an additional 1,995 shares during the last quarter. Brighton Jones LLC increased its position in shares of CSX by 5.3% during the 3rd quarter. Brighton Jones LLC now owns 24,012 shares of the transportation company’s stock worth $1,117,000 after purchasing an additional 1,211 shares in the last quarter. Ethic Inc. lifted its holdings in CSX by 12.9% during the 3rd quarter. Ethic Inc. now owns 173,349 shares of the transportation company’s stock valued at $8,062,000 after purchasing an additional 19,866 shares during the last quarter. StoneX Group Inc. boosted its position in CSX by 81.2% in the third quarter. StoneX Group Inc. now owns 12,171 shares of the transportation company’s stock valued at $572,000 after buying an additional 5,453 shares in the last quarter. Finally, Ethos Capital Management Inc. boosted its position in CSX by 17.2% in the third quarter. Ethos Capital Management Inc. now owns 46,007 shares of the transportation company’s stock valued at $2,140,000 after buying an additional 6,745 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Raymond James Financial set a $55.00 price objective on shares of CSX in a report on Friday, October 23rd. Citigroup reissued a “neutral” rating and issued a $54.00 target price (up from $53.00) on shares of CSX in a report on Friday, October 23rd. Argus set a $56.00 price target on CSX in a research report on Friday, July 31st. Evercore set a $53.00 price target on CSX in a report on Friday, October 23rd. Finally, Benchmark reaffirmed a “buy” rating and set a $54.00 price target (up from $48.00) on shares of CSX in a report on Wednesday, July 15th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.20.

Insider Activity at CSX

In other news, Director John Zillmer sold 19,500 shares of the stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $51.24, for a total transaction of $999,180.00. Following the sale, the director directly owned 334,214 shares of the company’s stock, valued at $17,125,125.36. This represents a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is owned by company insiders.

CSX Stock Up 2.8%

Shares of NASDAQ CSX opened at $50.48 on Tuesday. The firm’s 50-day simple moving average is $48.77 and its 200 day simple moving average is $45.96. The company has a market cap of $93.05 billion, a price-to-earnings ratio of 26.16, a price-to-earnings-growth ratio of 2.28 and a beta of 1.12. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 1.19. CSX Corporation has a 12-month low of $33.63 and a 12-month high of $53.60.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 21st. The transportation company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.04. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.96 billion. CSX had a net margin of 23.97% and a return on equity of 25.94%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 EPS. On average, research analysts expect that CSX Corporation will post 2.05 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, November 30th. CSX’s dividend payout ratio is presently 29.02%.

About CSX

CSX Corporation is a freight transportation company that operates one of the largest rail networks in the eastern United States. Its rail system serves customers across much of the eastern U.S., as well as parts of Canada, and connects with other railroads and ports.

CSX transports a broad range of goods, including chemicals, agricultural and food products, automobiles, minerals, forest products, coal and intermodal freight. Its services include rail transportation, intermodal shipping that combines rail and truck transport, and related logistics and supply-chain services.

The company was formed in 1980 through the merger of Chessie System and Seaboard Coast Line Industries, combining railroads with histories dating to the 19th century.