Pathstone Holdings LLC Acquires 13,299 Shares of CSX Co. (NASDAQ:CSX)

Pathstone Holdings LLC increased its position in CSX Co. (NASDAQ:CSX) by 4.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 282,471 shares of the transportation company’s stock after purchasing an additional 13,299 shares during the period. Pathstone Holdings LLC’s holdings in CSX were worth $9,754,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CSX. Aviance Capital Partners LLC raised its position in CSX by 11.4% in the 3rd quarter. Aviance Capital Partners LLC now owns 33,119 shares of the transportation company’s stock valued at $1,144,000 after buying an additional 3,402 shares during the last quarter. Holistic Financial Partners raised its position in CSX by 9.7% in the 3rd quarter. Holistic Financial Partners now owns 8,189 shares of the transportation company’s stock valued at $283,000 after buying an additional 724 shares during the last quarter. AMG National Trust Bank raised its position in CSX by 387.2% in the 3rd quarter. AMG National Trust Bank now owns 98,581 shares of the transportation company’s stock valued at $3,404,000 after buying an additional 78,348 shares during the last quarter. Thrivent Financial for Lutherans raised its position in CSX by 0.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock valued at $116,521,000 after buying an additional 24,430 shares during the last quarter. Finally, Obsidian Personal Planning Solutions LLC raised its position in CSX by 6.0% in the 3rd quarter. Obsidian Personal Planning Solutions LLC now owns 7,911 shares of the transportation company’s stock valued at $266,000 after buying an additional 450 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CSX. Stifel Nicolaus lowered their price target on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised their target price on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Benchmark reaffirmed a “buy” rating and set a $40.00 target price on shares of CSX in a research report on Wednesday, August 7th. BMO Capital Markets decreased their target price on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, TD Cowen cut their price target on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $38.78.

CSX Stock Performance

Shares of CSX opened at $34.57 on Thursday. The company has a market cap of $66.67 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a 50-day moving average price of $34.39 and a 200-day moving average price of $33.92. CSX Co. has a 12-month low of $31.65 and a 12-month high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 EPS. As a group, equities analysts forecast that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Dividend Announcement

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 issued 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 1.39%. CSX’s dividend payout ratio is 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.