Beaird Harris Wealth Management LLC Purchases 2,475 Shares of CSX Co. (NASDAQ:CSX)

Beaird Harris Wealth Management LLC grew its position in CSX Co. (NASDAQ:CSX) by 6,689.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,512 shares of the transportation company’s stock after purchasing an additional 2,475 shares during the period. Beaird Harris Wealth Management LLC’s holdings in CSX were worth $87,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CSX. Franklin Resources Inc. grew its position in shares of CSX by 9.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,350,289 shares of the transportation company’s stock valued at $47,652,000 after purchasing an additional 113,530 shares during the period. Tidal Investments LLC lifted its stake in CSX by 9.2% in the third quarter. Tidal Investments LLC now owns 194,760 shares of the transportation company’s stock valued at $6,725,000 after buying an additional 16,456 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its stake in CSX by 260.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 24,970 shares of the transportation company’s stock valued at $862,000 after buying an additional 18,049 shares in the last quarter. World Investment Advisors LLC boosted its holdings in shares of CSX by 137.4% in the third quarter. World Investment Advisors LLC now owns 16,145 shares of the transportation company’s stock valued at $557,000 after buying an additional 9,344 shares during the period. Finally, Sanctuary Advisors LLC increased its position in shares of CSX by 10.7% during the third quarter. Sanctuary Advisors LLC now owns 166,381 shares of the transportation company’s stock worth $5,953,000 after acquiring an additional 16,073 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CSX has been the subject of a number of research analyst reports. Stifel Nicolaus reduced their target price on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. TD Cowen reduced their price objective on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Royal Bank of Canada dropped their target price on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Susquehanna reduced their price target on CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research report on Thursday, October 17th. Finally, Stephens lowered their price objective on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.78.

CSX Stock Performance

CSX opened at $33.24 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The stock has a market cap of $64.10 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 2.24 and a beta of 1.20. CSX Co. has a 12-month low of $31.74 and a 12-month high of $40.12. The business has a 50 day moving average of $34.77 and a 200-day moving average of $34.08.

CSX (NASDAQ:CSX) last released 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). The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the firm earned $0.42 earnings per share. On average, equities research analysts expect that CSX Co. will post 1.84 earnings per share for the current year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued 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 was Friday, November 29th. CSX’s dividend payout ratio is presently 25.81%.

CSX Company 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.