Pathstone Holdings LLC Has $9.75 Million Stake in CSX Co. (NASDAQ:CSX)

Pathstone Holdings LLC increased its position in shares of CSX Co. (NASDAQ:CSX) by 4.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 282,471 shares of the transportation company’s stock after buying an additional 13,299 shares during the period. Pathstone Holdings LLC’s holdings in CSX were worth $9,754,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Western Wealth Management LLC boosted its position in CSX by 0.8% during the second quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock worth $1,208,000 after purchasing an additional 295 shares during the period. TriaGen Wealth Management LLC boosted its position in CSX by 2.7% during the second quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock worth $385,000 after purchasing an additional 300 shares during the period. Lake Street Advisors Group LLC boosted its position in shares of CSX by 1.8% in the third quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock valued at $595,000 after acquiring an additional 306 shares during the period. J.W. Cole Advisors Inc. boosted its position in shares of CSX by 0.9% in the third quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock valued at $1,222,000 after acquiring an additional 309 shares during the period. Finally, Jamison Private Wealth Management Inc. boosted its position in shares of CSX by 33.7% in the third quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company’s stock valued at $43,000 after acquiring an additional 316 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CSX has been the subject of a number of recent research reports. Royal Bank of Canada reduced their target price on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of CSX in a research report on Wednesday, August 7th. Stifel Nicolaus reduced their target price on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. BMO Capital Markets dropped their price target on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, Loop Capital dropped their price target on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and an average price target of $38.78.

CSX Stock Performance

CSX stock opened at $34.57 on Thursday. The business has a 50 day moving average of $34.39 and a 200-day moving average of $33.92. CSX Co. has a 1 year low of $31.65 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. The company has a market capitalization of $66.67 billion, a P/E ratio of 18.59, a P/E/G ratio of 2.23 and a beta of 1.19.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS 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 company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the previous year, the company earned $0.42 earnings per share. The business’s revenue was up 1.3% on a year-over-year basis. On average, equities research analysts predict that CSX Co. will post 1.84 earnings per share for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.39%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is presently 25.81%.

CSX 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.