Taylor Hoffman Wealth Management Buys 2,000 Shares of CSX Co. (NASDAQ:CSX)

Taylor Hoffman Wealth Management boosted its stake in shares of CSX Co. (NASDAQ:CSX) by 5.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,481 shares of the transportation company’s stock after acquiring an additional 2,000 shares during the period. CSX accounts for about 1.8% of Taylor Hoffman Wealth Management’s portfolio, making the stock its 13th biggest position. Taylor Hoffman Wealth Management’s holdings in CSX were worth $2,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Park National Corp OH grew its holdings in shares of CSX by 32.1% during the 2nd quarter. Park National Corp OH now owns 263,452 shares of the transportation company’s stock worth $20,383,000 after purchasing an additional 64,070 shares in the last quarter. Fulton Bank N.A. boosted its stake in shares of CSX by 5.1% during the 2nd quarter. Fulton Bank N.A. now owns 3,305 shares of the transportation company’s stock worth $256,000 after acquiring an additional 161 shares during the last quarter. Rockland Trust Co. boosted its stake in shares of CSX by 7.2% during the 2nd quarter. Rockland Trust Co. now owns 3,269 shares of the transportation company’s stock worth $253,000 after acquiring an additional 219 shares during the last quarter. DNB Asset Management AS boosted its stake in shares of CSX by 2.8% during the 2nd quarter. DNB Asset Management AS now owns 147,122 shares of the transportation company’s stock worth $11,383,000 after acquiring an additional 3,944 shares during the last quarter. Finally, WINTON GROUP Ltd boosted its stake in shares of CSX by 156.8% during the 2nd quarter. WINTON GROUP Ltd now owns 645,299 shares of the transportation company’s stock worth $49,927,000 after acquiring an additional 394,056 shares during the last quarter. Hedge funds and other institutional investors own 77.80% of the company’s stock.

NASDAQ CSX traded down $0.05 on Friday, reaching $74.03. The company had a trading volume of 2,258,800 shares, compared to its average volume of 4,946,240. The firm’s 50 day moving average price is $69.73 and its 200 day moving average price is $72.58. CSX Co. has a 12 month low of $58.47 and a 12 month high of $80.73. The stock has a market capitalization of $57.80 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 1.38 and a beta of 1.22. The company has a quick ratio of 1.33, a current ratio of 1.41 and a debt-to-equity ratio of 1.35.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, October 16th. The transportation company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.06. CSX had a net margin of 27.91% and a return on equity of 27.67%. The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the prior year, the company earned $1.05 EPS. The company’s revenue was down 4.8% compared to the same quarter last year. On average, research analysts expect that CSX Co. will post 4.18 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.24 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.96 annualized dividend and a dividend yield of 1.30%. CSX’s payout ratio is presently 25.00%.

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Several brokerages have recently weighed in on CSX. Argus set a $82.00 price target on shares of CSX and gave the stock a “buy” rating in a research note on Friday, October 18th. Bank of America lowered their target price on shares of CSX from $82.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Morgan Stanley lowered their target price on shares of CSX from $56.00 to $55.00 and set an “underweight” rating on the stock in a research note on Monday, October 7th. Royal Bank of Canada lowered their target price on shares of CSX to $75.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 17th. Finally, Cascend Securities cut shares of CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the company. CSX currently has a consensus rating of “Hold” and a consensus price target of $77.98.

In related news, Director Steven T. Halverson sold 39,812 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $71.65, for a total transaction of $2,852,529.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ridge Lp Mantle sold 3,453,894 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $67.91, for a total transaction of $234,553,941.54. Following the transaction, the director now owns 8,263 shares of the company’s stock, valued at approximately $561,140.33. The disclosure for this sale can be found here. 4.83% of the stock is currently owned by corporate insiders.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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