Pinion Investment Advisors LLC Makes New Investment in CSX Co. (NASDAQ:CSX)

Pinion Investment Advisors LLC acquired a new stake in shares of CSX Co. (NASDAQ:CSX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,115 shares of the transportation company’s stock, valued at approximately $238,000.

Other large investors have also recently modified their holdings of the company. MFA Wealth Advisors LLC bought a new position in CSX during the 2nd quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of CSX during the first quarter valued at approximately $29,000. Strategic Financial Concepts LLC bought a new position in shares of CSX in the second quarter worth approximately $33,000. Burkett Financial Services LLC purchased a new position in shares of CSX in the fourth quarter worth $34,000. Finally, Tortoise Investment Management LLC bought a new stake in CSX during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CSX shares. Benchmark reissued a “buy” rating and issued a $40.00 price target on shares of CSX in a report on Wednesday, August 7th. Evercore ISI raised CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Stephens restated an “overweight” rating and set a $42.00 price target on shares of CSX in a report on Tuesday, August 6th. Bank of America cut 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. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $36.00 target price on shares of CSX in a research note on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.80.

CSX Stock Performance

Shares of CSX stock opened at $33.52 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The company’s fifty day moving average price is $33.91 and its 200-day moving average price is $34.50. The stock has a market cap of $65.53 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. CSX had a net margin of 24.52% and a return on equity of 29.11%. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the prior year, the company earned $0.49 earnings per share. The business’s revenue was up .0% compared to the same quarter last year. On average, equities analysts expect that CSX Co. will post 1.93 EPS for the current fiscal year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Friday, August 30th. CSX’s payout ratio is 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.