Taylor Hoffman Wealth Management Grows Holdings in CSX Co. (NASDAQ:CSX)

Taylor Hoffman Wealth Management grew its holdings in shares of CSX Co. (NASDAQ:CSX) by 5.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,481 shares of the transportation company’s stock after buying an additional 2,000 shares during the quarter. CSX accounts for about 1.8% of Taylor Hoffman Wealth Management’s investment portfolio, making the stock its 13th largest holding. Taylor Hoffman Wealth Management’s holdings in CSX were worth $2,527,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Krane Funds Advisors LLC bought a new position in CSX during the second quarter worth $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in CSX by 88.5% during the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 426 shares of the transportation company’s stock worth $29,000 after purchasing an additional 200 shares during the last quarter. SRS Capital Advisors Inc. bought a new position in CSX during the second quarter worth $32,000. Kavar Capital Partners LLC bought a new position in CSX during the second quarter worth $35,000. Finally, FNY Investment Advisers LLC bought a new position in CSX during the second quarter worth $36,000. Institutional investors own 77.80% of the company’s stock.

Shares of CSX traded down $0.05 during trading hours on Friday, reaching $74.03. 2,258,800 shares of the company’s stock traded hands, compared to its average volume of 4,946,240. CSX Co. has a twelve month low of $58.47 and a twelve month high of $80.73. The firm has a market capitalization of $57.80 billion, a price-to-earnings ratio of 19.28, a P/E/G ratio of 1.38 and a beta of 1.22. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.41 and a quick ratio of 1.33. The business’s fifty day simple moving average is $69.73 and its two-hundred day simple moving average is $72.58.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, October 16th. The transportation company reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.06. CSX had a return on equity of 27.67% and a net margin of 27.91%. The firm had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same period last year, the company posted $1.05 EPS. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. On average, equities research analysts expect that CSX Co. will post 4.18 EPS for the current year.

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 paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Wednesday, November 27th. CSX’s dividend payout ratio (DPR) is presently 25.00%.

In related news, Director Ridge Lp Mantle sold 3,453,894 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $67.91, for a total value of $234,553,941.54. Following the transaction, the director now directly owns 8,263 shares of the company’s stock, valued at approximately $561,140.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven T. Halverson sold 39,812 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $71.65, for a total value of $2,852,529.80. The disclosure for this sale can be found here. 4.83% of the stock is owned by company insiders.

Several brokerages have weighed in on CSX. Credit Suisse Group increased their target price on CSX from $79.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Royal Bank of Canada dropped their target price on CSX to $75.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 17th. JPMorgan Chase & Co. lowered CSX from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $83.00 to $76.00 in a research report on Friday, October 4th. They noted that the move was a valuation call. Wells Fargo & Co began coverage on CSX in a research report on Monday, October 28th. They issued a “market perform” rating and a $73.00 target price on the stock. Finally, Cowen increased their target price on CSX from $77.00 to $78.00 and gave the stock a “market perform” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. CSX currently has a consensus rating of “Hold” and an average price target of $77.98.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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