Conway Capital Management Inc. Makes New $1.35 Million Investment in CSX Co. (NASDAQ:CSX)

Conway Capital Management Inc. purchased a new stake in shares of CSX Co. (NASDAQ:CSX - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,000 shares of the transportation company's stock, valued at approximately $1,347,000. CSX comprises about 0.7% of Conway Capital Management Inc.'s investment portfolio, making the stock its 23rd biggest holding.

Other hedge funds have also modified their holdings of the company. Avior Wealth Management LLC lifted its position in CSX by 2.5% during the 3rd quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company's stock valued at $407,000 after purchasing an additional 293 shares during the period. Western Wealth Management LLC lifted its holdings in CSX by 0.8% in the second quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company's stock valued at $1,208,000 after buying an additional 295 shares during the period. TriaGen Wealth Management LLC boosted its stake in CSX by 2.7% in the second quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company's stock valued at $385,000 after acquiring an additional 300 shares during the last quarter. Lake Street Advisors Group LLC grew its holdings in CSX by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company's stock worth $595,000 after acquiring an additional 306 shares during the period. Finally, J.W. Cole Advisors Inc. raised its position in shares of CSX by 0.9% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company's stock valued at $1,222,000 after acquiring an additional 309 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Stock Performance

Shares of NASDAQ CSX traded up $0.20 during mid-day trading on Tuesday, reaching $34.17. 11,244,978 shares of the company were exchanged, compared to its average volume of 11,653,832. The stock has a market capitalization of $65.89 billion, a P/E ratio of 18.37, a P/E/G ratio of 2.19 and a beta of 1.20. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The company's 50-day simple moving average is $34.82 and its 200-day simple moving average is $34.09. CSX Co. has a twelve month low of $31.74 and a twelve month high of $40.12.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. 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 earned $0.42 earnings per share. The business's quarterly revenue was up 1.3% compared to the same quarter last year. As a group, research analysts predict that CSX Co. will post 1.84 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. Stockholders of record on Friday, November 29th will be given a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.40%. CSX's payout ratio is 25.81%.

Analyst Ratings Changes

Several research firms have recently issued reports on CSX. Barclays raised their price target on CSX from $40.00 to $41.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. BMO Capital Markets reduced their target price on CSX from $40.00 to $39.00 and set an "outperform" rating on the stock in a report on Thursday, October 17th. Citigroup upped their price target on CSX from $42.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Royal Bank of Canada reduced their price objective on shares of CSX from $36.00 to $35.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 17th. Finally, Loop Capital decreased their price objective on shares of CSX from $43.00 to $42.00 and set a "buy" rating for the company in a report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.78.

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.