Resonant Capital Advisors LLC Has $1.93 Million Holdings in CSX Co. (NASDAQ:CSX)

Resonant Capital Advisors LLC boosted its position in CSX Co. (NASDAQ:CSX) by 3.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,963 shares of the transportation company’s stock after buying an additional 1,962 shares during the quarter. Resonant Capital Advisors LLC’s holdings in CSX were worth $1,932,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in CSX in the 2nd quarter worth $26,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in CSX in the 1st quarter worth $29,000. MFA Wealth Advisors LLC acquired a new stake in CSX in the 2nd quarter worth $27,000. Fairscale Capital LLC acquired a new stake in CSX in the 2nd quarter worth $32,000. Finally, Valued Wealth Advisors LLC grew its position in CSX by 172.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock worth $35,000 after purchasing an additional 594 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. TD Cowen reduced their price objective on shares of CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday. Susquehanna reduced their price objective on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a report on Thursday. Barclays reduced their price objective on shares of CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. Citigroup assumed coverage on shares of CSX in a report on Wednesday, October 9th. They set a “buy” rating and a $42.00 price objective for the company. Finally, Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Monday, July 8th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.61.

CSX Stock Up 3.1 %

Shares of NASDAQ:CSX opened at $34.12 on Friday. CSX Co. has a one year low of $29.03 and a one year high of $40.12. The company has a 50 day moving average of $34.02 and a 200-day moving average of $33.95. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The stock has a market cap of $66.70 billion, a price-to-earnings ratio of 18.75, a P/E/G ratio of 1.90 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 29.11% and a net margin of 24.52%. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, sell-side analysts forecast that CSX Co. will post 1.93 earnings per share for the current 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. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio is currently 26.37%.

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.