Community Trust & Investment Co. Acquires 2,100 Shares of CSX Co. (NASDAQ:CSX)

Community Trust & Investment Co. boosted its holdings in CSX Co. (NASDAQ:CSX) by 7.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 29,454 shares of the transportation company’s stock after purchasing an additional 2,100 shares during the period. Community Trust & Investment Co.’s holdings in CSX were worth $1,017,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Western Wealth Management LLC increased its position in CSX by 0.8% in the 2nd quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock worth $1,208,000 after buying an additional 295 shares during the period. TriaGen Wealth Management LLC increased its position in CSX by 2.7% in the 2nd quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock worth $385,000 after buying an additional 300 shares during the period. Miracle Mile Advisors LLC grew its holdings in shares of CSX by 0.3% during the 1st quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock worth $3,839,000 after purchasing an additional 303 shares in the last quarter. Team Hewins LLC grew its holdings in shares of CSX by 1.7% during the 1st quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock worth $696,000 after purchasing an additional 306 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. grew its holdings in shares of CSX by 33.7% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company’s stock worth $43,000 after purchasing an additional 316 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CSX shares. Benchmark reissued a “buy” rating and set a $40.00 price objective on shares of CSX in a report on Wednesday, August 7th. Loop Capital decreased their price objective on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Barclays decreased their price objective on CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. JPMorgan Chase & Co. lifted their price objective on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Finally, Stifel Nicolaus decreased their price target on CSX from $39.00 to $37.00 and set a “buy” 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.61.

CSX Trading Up 0.6 %

CSX stock opened at $33.85 on Wednesday. The company has a market cap of $66.17 billion, a P/E ratio of 18.60, a PEG ratio of 1.90 and a beta of 1.19. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The business has a fifty day moving average of $34.04 and a 200-day moving average of $33.90.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The firm 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 29.11% and a net margin of 24.52%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. As a group, equities research analysts expect that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.42%. CSX’s payout ratio is currently 26.37%.

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.