Pathway Financial Advisers LLC Acquires 445,607 Shares of CSX Co. (NASDAQ:CSX)

Pathway Financial Advisers LLC increased its stake in CSX Co. (NASDAQ:CSX) by 3,325.7% during the third quarter, Holdings Channel.com reports. The firm owned 459,006 shares of the transportation company’s stock after purchasing an additional 445,607 shares during the quarter. Pathway Financial Advisers LLC’s holdings in CSX were worth $15,849,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of CSX. Itau Unibanco Holding S.A. purchased a new stake in shares of CSX in the second quarter worth $26,000. MFA Wealth Advisors LLC bought a new position in CSX in the 2nd quarter worth $27,000. Fairscale Capital LLC purchased a new stake in CSX in the 2nd quarter worth $32,000. Strategic Financial Concepts LLC bought a new stake in CSX during the second quarter valued at about $33,000. Finally, Valued Wealth Advisors LLC lifted its position in shares of CSX by 172.7% in the first quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 594 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Royal Bank of Canada cut their target price on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. BMO Capital Markets reduced their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Citigroup began coverage on shares of CSX in a research report on Wednesday, October 9th. They set a “buy” rating and a $42.00 target price for the company. Wells Fargo & Company reduced their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Finally, Benchmark reissued a “buy” rating and set a $40.00 price objective on shares of CSX in a report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.61.

CSX Trading Up 0.5 %

NASDAQ CSX traded up $0.17 on Friday, hitting $33.27. 14,067,075 shares of the stock were exchanged, compared to its average volume of 11,651,126. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The firm has a market capitalization of $65.04 billion, a P/E ratio of 18.28, a P/E/G ratio of 1.90 and a beta of 1.19. The stock has a fifty day moving average price of $34.03 and a two-hundred day moving average price of $33.87.

CSX (NASDAQ:CSX) last released its quarterly earnings results 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 29.11% and a net margin of 24.52%. The firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same period in the prior year, the firm posted $0.42 earnings per share. CSX’s revenue for the quarter was up 1.3% on a year-over-year basis. Research analysts forecast that CSX Co. will post 1.93 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th 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 1.44%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio is currently 26.37%.

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.