Nwam LLC Takes Position in CSX Co. (NASDAQ:CSX)

Nwam LLC bought a new position in CSX Co. (NASDAQ:CSX) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 16,807 shares of the transportation company’s stock, valued at approximately $580,000.

Several other large investors have also added to or reduced their stakes in the business. Banque Cantonale Vaudoise lifted its holdings in shares of CSX by 149.1% in the second quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock valued at $575,000 after purchasing an additional 10,301 shares in the last quarter. Ascent Group LLC lifted its stake in CSX by 559.7% during the 1st quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock valued at $2,179,000 after acquiring an additional 49,869 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in CSX by 20.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock valued at $16,139,000 after acquiring an additional 80,423 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in CSX by 0.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after acquiring an additional 24,430 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of CSX by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company’s stock worth $81,095,000 after acquiring an additional 77,488 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

CSX has been the topic of several analyst reports. Benchmark reaffirmed a “buy” rating and issued a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. BMO Capital Markets reduced their target price on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Wells Fargo & Company decreased their price target on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Evercore ISI cut their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, Stephens decreased their target price on CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.78.

CSX Trading Up 1.2 %

NASDAQ:CSX opened at $35.78 on Friday. The company has a market cap of $69.00 billion, a P/E ratio of 19.24, a P/E/G ratio of 2.24 and a beta of 1.19. CSX Co. has a 1 year low of $31.65 and a 1 year high of $40.12. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The stock’s fifty day moving average price is $34.48 and its two-hundred day moving average price is $33.94.

CSX (NASDAQ:CSX) last posted its earnings results 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%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 EPS. As a group, analysts expect that CSX Co. will post 1.84 EPS for the current year.

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.34%. CSX’s dividend payout ratio (DPR) is currently 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.