Pathway Financial Advisers LLC Invests $506,000 in CSX Co. (NASDAQ:CSX)

Pathway Financial Advisers LLC bought a new stake in CSX Co. (NASDAQ:CSX) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 13,656 shares of the transportation company’s stock, valued at approximately $506,000.

Several other large investors have also recently added to or reduced their stakes in the business. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of CSX in the 1st quarter valued at about $29,000. Valued Wealth Advisors LLC grew its stake in CSX by 172.7% during the first quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock worth $35,000 after buying an additional 594 shares during the period. Burkett Financial Services LLC acquired a new stake in shares of CSX in the fourth quarter worth $34,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of CSX in the 4th quarter valued at $34,000. Finally, Avion Wealth lifted its holdings in shares of CSX by 450.5% during the 4th quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 820 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Down 2.0 %

NASDAQ:CSX traded down $0.69 during trading hours on Friday, hitting $34.08. 13,305,920 shares of the company’s stock traded hands, compared to its average volume of 10,860,391. The stock’s fifty day moving average price is $33.56 and its two-hundred day moving average price is $35.04. The firm has a market cap of $66.62 billion, a P/E ratio of 18.73, a P/E/G ratio of 1.89 and a beta of 1.20. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Friday, August 30th. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. UBS Group decreased their price objective on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Stifel Nicolaus increased their target price on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Jefferies Financial Group decreased their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. Royal Bank of Canada cut their price target on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday, April 18th. Finally, Susquehanna dropped their target price on shares of CSX from $44.00 to $40.00 and set a “positive” rating for the company in a research report on Tuesday, June 25th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, CSX has an average rating of “Moderate Buy” and an average price target of $38.14.

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.