Wealth Enhancement Advisory Services LLC Purchases 1,937 Shares of CSX Co. (NASDAQ:CSX)

Wealth Enhancement Advisory Services LLC boosted its position in CSX Co. (NASDAQ:CSX) by 0.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 867,037 shares of the transportation company’s stock after purchasing an additional 1,937 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in CSX were worth $29,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Itau Unibanco Holding S.A. purchased a new position in CSX during the 2nd quarter worth $26,000. MFA Wealth Advisors LLC bought a new position in shares of CSX during the 2nd quarter worth $27,000. Fairscale Capital LLC purchased a new position in shares of CSX during the second quarter valued at $32,000. Strategic Financial Concepts LLC bought a new stake in shares of CSX in the second quarter valued at about $33,000. Finally, TFC Financial Management Inc. lifted its stake in CSX by 72.4% in the second quarter. TFC Financial Management Inc. now owns 1,048 shares of the transportation company’s stock worth $35,000 after acquiring an additional 440 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

CSX has been the subject of several recent research reports. Stifel Nicolaus reduced their price target on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Wells Fargo & Company lowered their target price on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Benchmark reiterated a “buy” rating and issued a $40.00 price target on shares of CSX in a report on Wednesday, August 7th. Susquehanna decreased their price objective on CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Thursday, October 17th. Finally, Bank of America downgraded CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research report on Monday, July 8th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.61.

CSX Price Performance

NASDAQ CSX opened at $33.27 on Monday. The company has a market cap of $65.04 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.90 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The stock’s fifty day moving average price is $34.03 and its 200 day moving average price is $33.85. 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 analysts’ consensus estimates of $0.48 by ($0.02). CSX had a net margin of 24.52% and a return on equity of 29.11%. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period in the prior year, the company posted $0.42 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities research analysts forecast that CSX Co. will post 1.93 earnings per share for the current year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio is presently 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.