Wallace Advisory Group LLC Has $363,000 Position in CSX Co. (NASDAQ:CSX)

Wallace Advisory Group LLC reduced its stake in CSX Co. (NASDAQ:CSX) by 3.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 10,853 shares of the transportation company’s stock after selling 363 shares during the period. Wallace Advisory Group LLC’s holdings in CSX were worth $363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in shares of CSX in the second quarter valued at $26,000. Financial Synergies Wealth Advisors Inc. bought a new position in CSX during the first quarter worth about $29,000. MFA Wealth Advisors LLC bought a new position in CSX during the second quarter worth about $27,000. Fairscale Capital LLC bought a new position in CSX during the second quarter worth about $32,000. Finally, Valued Wealth Advisors LLC increased its position in CSX by 172.7% during the first quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock worth $35,000 after acquiring an additional 594 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Bank of America lowered shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research report on Monday, July 8th. BMO Capital Markets reissued an “outperform” rating and issued a $40.00 target price on shares of CSX in a report on Tuesday, August 6th. Wells Fargo & Company began coverage on shares of CSX in a report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 target price on the stock. Barclays decreased their target price on shares of CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. raised their target price on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

CSX Trading Up 1.1 %

Shares of NASDAQ CSX traded up $0.37 during midday trading on Friday, reaching $34.49. The stock had a trading volume of 10,243,425 shares, compared to its average volume of 11,546,590. The firm has a market cap of $67.43 billion, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 1.91 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 debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. The company’s 50 day moving average price is $33.97 and its 200 day moving average price is $34.15.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.49 EPS. As a group, sell-side analysts expect that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.39%. CSX’s dividend payout ratio (DPR) is currently 26.37%.

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.