CSX Co. (NASDAQ:CSX) Shares Acquired by World Investment Advisors LLC

World Investment Advisors LLC increased its holdings in CSX Co. (NASDAQ:CSX) by 137.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 16,145 shares of the transportation company’s stock after acquiring an additional 9,344 shares during the quarter. World Investment Advisors LLC’s holdings in CSX were worth $557,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CSX. Itau Unibanco Holding S.A. acquired a new position in shares of CSX in the second quarter worth about $26,000. Valley Wealth Managers Inc. raised its stake in CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after buying an additional 480 shares in the last quarter. Morton Brown Family Wealth LLC acquired a new stake in CSX during the third quarter valued at approximately $31,000. Fairscale Capital LLC acquired a new stake in CSX during the second quarter valued at approximately $32,000. Finally, Strategic Financial Concepts LLC acquired a new stake in CSX during the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Performance

Shares of CSX stock opened at $32.93 on Wednesday. CSX Co. has a 12-month low of $31.74 and a 12-month high of $40.12. The firm has a market capitalization of $63.50 billion, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 2.24 and a beta of 1.20. The business has a 50 day simple moving average of $34.74 and a 200 day simple moving average of $34.09. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same period last year, the company earned $0.42 earnings per share. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities research analysts anticipate that CSX Co. will post 1.84 EPS for the current year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Friday, November 29th. CSX’s dividend payout ratio (DPR) is 25.81%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CSX shares. TD Cowen cut their price objective on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Evercore ISI cut their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Barclays upped their price objective on CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Wells Fargo & Company cut their price objective on CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 17th. Finally, BMO Capital Markets cut their price objective on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.78.

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.