Brophy Wealth Management LLC Invests $414,000 in CSX Co. (NASDAQ:CSX)

Brophy Wealth Management LLC purchased a new position in CSX Co. (NASDAQ:CSX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 12,000 shares of the transportation company’s stock, valued at approximately $414,000.

Several other large investors have also recently made changes to their positions in the stock. Itau Unibanco Holding S.A. purchased a new position in CSX during the 2nd quarter worth $26,000. Valley Wealth Managers Inc. grew its stake in CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after buying an additional 480 shares during the last quarter. MFA Wealth Advisors LLC purchased a new position in CSX during the 2nd quarter worth $27,000. Morton Brown Family Wealth LLC purchased a new position in CSX during the 3rd quarter worth $31,000. Finally, Fairscale Capital LLC purchased a new position in CSX during the 2nd quarter worth $32,000. 73.57% of the stock is owned by institutional investors.

CSX Stock Performance

NASDAQ CSX opened at $34.17 on Wednesday. The company has a market cap of $65.89 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. The stock’s 50 day simple moving average is $34.82 and its 200-day simple moving average is $34.09. CSX Co. has a 1-year low of $31.74 and a 1-year high of $40.12. 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 announced its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 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 company had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter in the previous year, the business posted $0.42 EPS. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts anticipate that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.40%. CSX’s payout ratio is 25.81%.

Wall Street Analyst Weigh In

CSX has been the topic of a number of research reports. Evercore ISI cut their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Stifel Nicolaus cut their price objective on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Susquehanna cut their price objective on CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Thursday, October 17th. TD Cowen cut their price objective on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Finally, Royal Bank of Canada cut their price objective on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average price target of $38.78.

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.