Equitable Trust Co. Purchases 10,970 Shares of CSX Co. (NASDAQ:CSX)

Equitable Trust Co. lifted its position in shares of CSX Co. (NASDAQ:CSX) by 7.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 166,677 shares of the transportation company’s stock after buying an additional 10,970 shares during the quarter. Equitable Trust Co.’s holdings in CSX were worth $5,755,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in shares of CSX in the 2nd quarter valued at about $26,000. MFA Wealth Advisors LLC acquired a new position in CSX in the second quarter valued at approximately $27,000. Morton Brown Family Wealth LLC bought a new position in shares of CSX during the 3rd quarter worth approximately $31,000. Fairscale Capital LLC acquired a new stake in shares of CSX during the 2nd quarter worth approximately $32,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of CSX in the 2nd quarter valued at $33,000. Institutional investors own 73.57% of the company’s stock.

CSX Trading Up 1.2 %

Shares of CSX opened at $36.00 on Friday. The firm has a market cap of $69.42 billion, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The business has a 50-day moving average of $34.15 and a 200 day moving average of $33.82. CSX Co. has a fifty-two week low of $30.13 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings results 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 during 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%. CSX’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 earnings per share. As a group, research analysts forecast that CSX Co. will post 1.84 EPS for the current year.

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.33%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is 25.81%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CSX shares. Susquehanna cut their target price on shares of CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research note on Thursday, October 17th. Wells Fargo & Company cut their price target on CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Royal Bank of Canada lowered 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. Citigroup assumed coverage on shares of CSX in a research report on Wednesday, October 9th. They issued a “buy” rating and a $42.00 price target for the company. Finally, TD Cowen dropped their price objective on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.61.

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.