Dakota Wealth Management Purchases 2,115 Shares of CSX Co. (NASDAQ:CSX)

Dakota Wealth Management increased its stake in shares of CSX Co. (NASDAQ:CSX) by 21.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,778 shares of the transportation company’s stock after acquiring an additional 2,115 shares during the quarter. Dakota Wealth Management’s holdings in CSX were worth $407,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of CSX in the second quarter valued at approximately $26,000. MFA Wealth Advisors LLC acquired a new position in CSX in the second quarter valued at about $27,000. Fairscale Capital LLC bought a new stake in CSX during the 2nd quarter worth approximately $32,000. Strategic Financial Concepts LLC bought a new stake in shares of CSX during the second quarter worth $33,000. Finally, TFC Financial Management Inc. raised its stake in shares of CSX by 72.4% in the 2nd quarter. TFC Financial Management Inc. now owns 1,048 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 440 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Down 0.0 %

Shares of NASDAQ CSX opened at $33.26 on Tuesday. The firm has a 50-day simple moving average of $34.02 and a two-hundred day simple moving average of $33.83. CSX Co. has a 1 year low of $29.26 and a 1 year high of $40.12. 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 company has a market cap of $65.02 billion, a P/E ratio of 18.27, a PEG ratio of 1.90 and a beta of 1.19.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. CSX’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. Research analysts anticipate that CSX Co. will post 1.93 earnings per share for the current year.

CSX Dividend Announcement

The business also recently declared 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 is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.44%. CSX’s payout ratio is 26.37%.

Analyst Ratings Changes

Several equities research analysts have commented on CSX shares. Citigroup began coverage on shares of CSX in a research report on Wednesday, October 9th. They set a “buy” rating and a $42.00 price target on the stock. Wells Fargo & Company decreased their price objective on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Loop Capital dropped their price objective on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Susquehanna cut their price target on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a report on Thursday, October 17th. Finally, Benchmark reiterated a “buy” rating and issued a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.61.

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.