Secure Asset Management LLC Raises Stock Holdings in CSX Co. (NASDAQ:CSX)

Secure Asset Management LLC raised its position in shares of CSX Co. (NASDAQ:CSX) by 3.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 16,838 shares of the transportation company’s stock after purchasing an additional 570 shares during the period. Secure Asset Management LLC’s holdings in CSX were worth $581,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Itau Unibanco Holding S.A. purchased a new stake in shares of CSX in the 2nd quarter worth approximately $26,000. MFA Wealth Advisors LLC purchased a new stake in shares of CSX in the second quarter worth $27,000. Financial Synergies Wealth Advisors Inc. bought a new position in shares of CSX during the first quarter valued at $29,000. Fairscale Capital LLC purchased a new position in shares of CSX in the 2nd quarter worth about $32,000. Finally, Strategic Financial Concepts LLC bought a new position in CSX in the 2nd quarter worth about $33,000. Institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CSX shares. Stephens dropped their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday. Citigroup started coverage on CSX in a research note on Wednesday, October 9th. They set a “buy” rating and a $42.00 target price on the stock. Sanford C. Bernstein increased their price objective on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Royal Bank of Canada decreased their target price on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday. Finally, Wells Fargo & Company lowered their target price on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $38.61.

CSX Trading Up 3.1 %

Shares of CSX stock opened at $34.12 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The company has a market cap of $66.70 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 1.90 and a beta of 1.19. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The firm has a fifty day moving average price of $34.02 and a 200-day moving average price of $33.97.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a net margin of 24.52% and a return on equity of 29.11%. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the prior year, the firm posted $0.42 EPS. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities analysts predict that CSX Co. will post 1.93 earnings per share for the current year.

CSX Dividend Announcement

The company 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. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend 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.