Wright Investors Service Inc. Purchases 30,700 Shares of CSX Co. (NASDAQ:CSX)

Wright Investors Service Inc. raised its stake in CSX Co. (NASDAQ:CSX) by 87.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 65,967 shares of the transportation company’s stock after buying an additional 30,700 shares during the period. Wright Investors Service Inc.’s holdings in CSX were worth $2,278,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new stake in CSX in the second quarter worth $26,000. MFA Wealth Advisors LLC bought a new stake in CSX during the second quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. bought a new stake in CSX during the first quarter valued at $29,000. Fairscale Capital LLC purchased a new position in shares of CSX in the 2nd quarter worth about $32,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of CSX in the 2nd quarter worth approximately $33,000. Institutional investors own 73.57% of the company’s stock.

CSX Stock Up 1.1 %

NASDAQ:CSX traded up $0.37 on Friday, hitting $34.49. 10,243,425 shares of the company’s stock traded hands, compared to its average volume of 11,546,590. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The firm has a 50-day moving average price of $33.97 and a 200-day moving average price of $34.13. The company has a market cap of $67.43 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 1.91 and a beta of 1.19.

CSX (NASDAQ:CSX) last announced its earnings results on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share. Equities analysts anticipate that CSX Co. will post 1.93 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 given a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.39%. CSX’s dividend payout ratio is currently 26.37%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CSX. JPMorgan Chase & Co. increased their price target on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Barclays reduced their price objective on shares of CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. Susquehanna raised their price objective on shares of CSX from $41.00 to $42.00 and gave the stock a “positive” rating in a report on Wednesday. Sanford C. Bernstein lifted their price target on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $40.00 price target on shares of CSX in a report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

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.