Empowered Funds LLC Acquires 31,604 Shares of CSX Co. (NASDAQ:CSX)

Empowered Funds LLC boosted its position in CSX Co. (NASDAQ:CSX - Free Report) by 20.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 189,366 shares of the transportation company's stock after purchasing an additional 31,604 shares during the period. Empowered Funds LLC's holdings in CSX were worth $6,539,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Blair William & Co. IL grew its position in shares of CSX by 11.6% during the 1st quarter. Blair William & Co. IL now owns 164,120 shares of the transportation company's stock valued at $6,084,000 after acquiring an additional 17,109 shares during the period. Acadian Asset Management LLC lifted its stake in CSX by 12.0% in the 1st quarter. Acadian Asset Management LLC now owns 42,999 shares of the transportation company's stock worth $1,592,000 after purchasing an additional 4,606 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its stake in CSX by 35.8% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 30,158 shares of the transportation company's stock worth $1,118,000 after purchasing an additional 7,951 shares in the last quarter. Catalytic Wealth RIA LLC raised its position in shares of CSX by 5.1% during the 1st quarter. Catalytic Wealth RIA LLC now owns 14,135 shares of the transportation company's stock valued at $524,000 after buying an additional 691 shares in the last quarter. Finally, Trustmark National Bank Trust Department raised its position in shares of CSX by 3.4% during the 1st quarter. Trustmark National Bank Trust Department now owns 13,042 shares of the transportation company's stock valued at $483,000 after buying an additional 432 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CSX. TD Cowen lowered their price objective on shares of CSX from $36.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised their price target on shares of CSX from $39.00 to $42.00 and gave the stock an "overweight" rating in a report on Tuesday, August 6th. Wells Fargo & Company cut their price target 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. Susquehanna dropped their target price on shares of CSX from $42.00 to $40.00 and set a "positive" rating for the company in a research report on Thursday, October 17th. Finally, Evercore ISI dropped their target price on shares of CSX from $38.00 to $37.00 and set an "outperform" rating for the company in a research report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $38.78.

CSX Stock Down 1.4 %

CSX stock traded down $0.50 during trading hours on Friday, hitting $35.13. The stock had a trading volume of 10,597,925 shares, compared to its average volume of 13,312,988. 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 stock has a market capitalization of $67.75 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19. CSX Co. has a 12-month low of $30.86 and a 12-month high of $40.12. The stock's 50-day moving average price is $34.32 and its 200-day moving average price is $33.90.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings results 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 return on equity of 28.92% and a net margin of 24.77%. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the prior year, the firm earned $0.42 earnings per share. The business's revenue was up 1.3% compared to the same quarter last year. Equities research analysts anticipate that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid 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 1.37%. CSX's dividend payout ratio is presently 25.81%.

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.