Proficio Capital Partners LLC Acquires 3,838 Shares of CSX Co. (NASDAQ:CSX)

Proficio Capital Partners LLC raised its holdings in CSX Co. (NASDAQ:CSX) by 34.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,098 shares of the transportation company’s stock after buying an additional 3,838 shares during the period. Proficio Capital Partners LLC’s holdings in CSX were worth $521,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Assetmark Inc. increased its stake in shares of CSX by 6.2% during the third quarter. Assetmark Inc. now owns 369,680 shares of the transportation company’s stock worth $12,765,000 after purchasing an additional 21,662 shares during the period. Rockbridge Investment Management LCC bought a new position in shares of CSX during the third quarter worth approximately $205,000. CWA Asset Management Group LLC bought a new position in shares of CSX during the third quarter worth approximately $499,000. Equitable Trust Co. increased its stake in shares of CSX by 7.0% during the third quarter. Equitable Trust Co. now owns 166,677 shares of the transportation company’s stock worth $5,755,000 after purchasing an additional 10,970 shares during the period. Finally, Philip James Wealth Mangement LLC bought a new position in shares of CSX during the third quarter worth approximately $516,000. Institutional investors own 73.57% of the company’s stock.

CSX Trading Up 1.2 %

Shares of CSX stock opened at $36.00 on Monday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. CSX Co. has a fifty-two week low of $30.13 and a fifty-two week high of $40.12. The company has a market cap of $69.42 billion, a PE ratio of 19.35, a P/E/G ratio of 2.34 and a beta of 1.19. The stock’s fifty day moving average price is $34.15 and its two-hundred day moving average price is $33.82.

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

CSX Announces Dividend

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 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is 25.81%.

Analyst Upgrades and Downgrades

CSX has been the topic of a number of recent research reports. Benchmark reiterated a “buy” rating and set a $40.00 target price on shares of CSX in a research note on Wednesday, August 7th. Loop Capital lowered their price objective on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Stifel Nicolaus lowered their price objective on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Evercore ISI lowered 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. Finally, Stephens lowered their price objective on CSX from $41.00 to $39.00 and set an “overweight” 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and an average target price 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.