Pathway Financial Advisers LLC Has $15.85 Million Stake in CSX Co. (NASDAQ:CSX)

Pathway Financial Advisers LLC grew its stake in shares of CSX Co. (NASDAQ:CSX - Free Report) by 3,325.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 459,006 shares of the transportation company's stock after buying an additional 445,607 shares during the quarter. Pathway Financial Advisers LLC's holdings in CSX were worth $15,849,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Itau Unibanco Holding S.A. bought a new position in shares of CSX during the 2nd quarter valued at about $26,000. MFA Wealth Advisors LLC acquired a new position in CSX in the 2nd quarter worth approximately $27,000. Morton Brown Family Wealth LLC purchased a new position in CSX during the 3rd quarter worth approximately $31,000. Fairscale Capital LLC purchased a new stake in shares of CSX in the second quarter valued at $32,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of CSX in the second quarter valued at $33,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Performance

CSX stock traded up $0.25 during midday trading on Wednesday, hitting $33.50. 4,710,286 shares of the company traded hands, compared to its average volume of 11,607,588. The business has a 50 day simple moving average of $34.02 and a 200-day simple moving average of $33.82. 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 Co. has a twelve month low of $29.28 and a twelve month high of $40.12. The stock has a market capitalization of $65.49 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter last year, the business earned $0.42 EPS. The business's revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts predict that CSX Co. will post 1.93 earnings per share for the current year.

CSX Dividend Announcement

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 issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%. CSX's dividend payout ratio (DPR) is presently 26.37%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. BMO Capital Markets dropped their price target on CSX from $40.00 to $39.00 and set an "outperform" rating on the stock in a research report on Thursday, October 17th. Loop Capital dropped their target price on CSX from $43.00 to $42.00 and set a "buy" rating on the stock in a report on Thursday, October 17th. Stifel Nicolaus decreased their price target on shares of CSX from $39.00 to $37.00 and set a "buy" rating for the company in a report on Thursday, October 17th. Susquehanna dropped their price objective on shares of CSX from $42.00 to $40.00 and set a "positive" rating on the stock in a research note on Thursday, October 17th. Finally, Evercore ISI decreased their target price on shares of CSX from $38.00 to $37.00 and set an "outperform" rating for the company in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently 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.