CSX Co. (NASDAQ:CSX) Shares Acquired by Providence Capital Advisors LLC

Providence Capital Advisors LLC lifted its position in shares of CSX Co. (NASDAQ:CSX) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 180,733 shares of the transportation company’s stock after buying an additional 5,700 shares during the period. Providence Capital Advisors LLC’s holdings in CSX were worth $6,241,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Avior Wealth Management LLC increased its stake in shares of CSX by 2.5% in the third quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock valued at $407,000 after purchasing an additional 293 shares during the period. Western Wealth Management LLC increased its stake in shares of CSX by 0.8% in the second quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock valued at $1,208,000 after purchasing an additional 295 shares during the period. TriaGen Wealth Management LLC increased its stake in shares of CSX by 2.7% in the second quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock valued at $385,000 after purchasing an additional 300 shares during the period. Lake Street Advisors Group LLC increased its stake in shares of CSX by 1.8% in the third quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock valued at $595,000 after purchasing an additional 306 shares during the period. Finally, J.W. Cole Advisors Inc. increased its stake in shares of CSX by 0.9% in the third quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock valued at $1,222,000 after purchasing an additional 309 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Trading Down 0.3 %

CSX stock opened at $36.58 on Thursday. The company has a 50 day moving average price of $34.64 and a 200 day moving average price of $33.99. CSX Co. has a 52 week low of $31.65 and a 52 week high of $40.12. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The firm has a market capitalization of $70.54 billion, a price-to-earnings ratio of 19.67, a P/E/G ratio of 2.32 and a beta of 1.19.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period in the prior year, the business posted $0.42 EPS. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. Research analysts forecast that CSX Co. will post 1.84 EPS for the current year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio is 25.81%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CSX. Benchmark restated a “buy” rating and issued a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. Royal Bank of Canada decreased their price objective on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. BMO Capital Markets decreased their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Evercore ISI decreased their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, Loop Capital decreased their price objective on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $38.78.

About CSX

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.