Eastern Bank Makes New $1.76 Million Investment in CSX Co. (NASDAQ:CSX)

Eastern Bank acquired a new stake in shares of CSX Co. (NASDAQ:CSX) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 51,011 shares of the transportation company’s stock, valued at approximately $1,761,000.

Several other institutional investors have also modified their holdings of the business. Dynamic Advisor Solutions LLC increased its position in shares of CSX by 10.1% during the first quarter. Dynamic Advisor Solutions LLC now owns 35,503 shares of the transportation company’s stock worth $1,316,000 after acquiring an additional 3,257 shares in the last quarter. Kingswood Wealth Advisors LLC raised its stake in shares of CSX by 85.0% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 13,604 shares of the transportation company’s stock valued at $504,000 after purchasing an additional 6,251 shares during the period. Brookstone Capital Management lifted its holdings in shares of CSX by 15.6% in the first quarter. Brookstone Capital Management now owns 27,113 shares of the transportation company’s stock valued at $1,005,000 after purchasing an additional 3,662 shares in the last quarter. Revolve Wealth Partners LLC acquired a new position in shares of CSX during the first quarter worth about $477,000. Finally, Wealthcare Advisory Partners LLC grew its holdings in shares of CSX by 24.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 26,008 shares of the transportation company’s stock worth $964,000 after buying an additional 5,155 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

CSX has been the subject of a number of recent research reports. Stephens reduced their price target on CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Citigroup began coverage on shares of CSX in a research report on Wednesday, October 9th. They issued a “buy” rating and a $42.00 target price for the company. Wells Fargo & Company cut their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Royal Bank of Canada decreased their price objective on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Finally, Benchmark reissued a “buy” rating and set a $40.00 price target on shares of CSX in a research report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and an average price target of $38.61.

CSX Stock Up 0.6 %

NASDAQ CSX opened at $33.85 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The company has a market cap of $66.17 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 1.90 and a beta of 1.19. The company has a 50 day moving average of $34.04 and a 200-day moving average of $33.90. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. CSX’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 earnings per share. On average, equities research analysts expect that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid 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 1.42%. CSX’s payout ratio is 26.37%.

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.