Exchange Traded Concepts LLC Acquires 5,396 Shares of CSX Co. (NASDAQ:CSX)

Exchange Traded Concepts LLC increased its position in shares of CSX Co. (NASDAQ:CSX) by 255.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,505 shares of the transportation company’s stock after buying an additional 5,396 shares during the quarter. Exchange Traded Concepts LLC’s holdings in CSX were worth $259,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new position in CSX during the second quarter valued at $26,000. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of CSX in the first quarter worth about $29,000. MFA Wealth Advisors LLC purchased a new position in shares of CSX in the second quarter worth about $27,000. Fairscale Capital LLC purchased a new position in shares of CSX in the second quarter worth about $32,000. Finally, Valued Wealth Advisors LLC increased its holdings in shares of CSX by 172.7% in the first quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock worth $35,000 after buying an additional 594 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CSX has been the topic of several recent analyst reports. Sanford C. Bernstein raised their target price on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Evercore ISI dropped their price target on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Wells Fargo & Company reduced their price objective on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, TD Cowen lowered their target price on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.61.

CSX Price Performance

Shares of NASDAQ CSX opened at $34.12 on Monday. The business’s 50 day moving average price is $34.02 and its 200 day moving average price is $33.93. The firm has a market cap of $66.70 billion, a P/E ratio of 18.75, a P/E/G ratio of 1.90 and a beta of 1.19. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last announced 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 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%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 earnings per share. On average, sell-side analysts expect that CSX Co. will post 1.93 earnings per share for the current year.

CSX Dividend Announcement

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 paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.41%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio is currently 26.37%.

About CSX

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.