Empowered Funds LLC Purchases 31,604 Shares of CSX Co. (NASDAQ:CSX)

Empowered Funds LLC lifted its holdings in CSX Co. (NASDAQ:CSX) by 20.0% during the third quarter, HoldingsChannel reports. The firm owned 189,366 shares of the transportation company’s stock after purchasing an additional 31,604 shares during the period. Empowered Funds LLC’s holdings in CSX were worth $6,539,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price objective on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Citigroup lifted their price objective on CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Stephens cut their target price on CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Finally, BMO Capital Markets reduced their target price on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.78.

CSX Price Performance

Shares of CSX stock opened at $35.13 on Friday. The stock has a market capitalization of $67.75 billion, a price-to-earnings ratio of 18.89, a P/E/G ratio of 2.32 and a beta of 1.19. The firm’s 50-day moving average price is $34.32 and its two-hundred day moving average price is $33.90. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a 1-year low of $30.86 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last released its quarterly 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 business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 earnings per share. On average, equities analysts predict that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s payout ratio is presently 25.81%.

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.