SeaCrest Wealth Management LLC Acquires 1,353 Shares of CSX Co. (NASDAQ:CSX)

SeaCrest Wealth Management LLC lifted its holdings in CSX Co. (NASDAQ:CSX) by 11.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,068 shares of the transportation company’s stock after acquiring an additional 1,353 shares during the period. SeaCrest Wealth Management LLC’s holdings in CSX were worth $905,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. First Trust Advisors LP raised its position in CSX by 157.7% in the 1st quarter. First Trust Advisors LP now owns 889,852 shares of the transportation company’s stock worth $66,579,000 after purchasing an additional 544,542 shares during the period. Amundi Pioneer Asset Management Inc. raised its position in CSX by 5.5% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,594,156 shares of the transportation company’s stock worth $119,276,000 after purchasing an additional 83,296 shares during the period. Belpointe Asset Management LLC raised its position in CSX by 188.7% in the 1st quarter. Belpointe Asset Management LLC now owns 5,584 shares of the transportation company’s stock worth $418,000 after purchasing an additional 3,650 shares during the period. Advisory Services Network LLC raised its position in CSX by 11.1% in the 1st quarter. Advisory Services Network LLC now owns 21,976 shares of the transportation company’s stock worth $1,644,000 after purchasing an additional 2,202 shares during the period. Finally, Nordea Investment Management AB raised its position in CSX by 74.2% in the 1st quarter. Nordea Investment Management AB now owns 304,445 shares of the transportation company’s stock worth $22,779,000 after purchasing an additional 129,631 shares during the period. 75.74% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ CSX traded down $0.32 during midday trading on Wednesday, reaching $68.85. 175,785 shares of the company’s stock traded hands, compared to its average volume of 4,784,016. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 1.26. The stock’s 50 day simple moving average is $68.31 and its 200-day simple moving average is $73.12. CSX Co. has a one year low of $58.47 and a one year high of $80.73. The company has a market cap of $55.11 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 1.29 and a beta of 1.24.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Tuesday, July 16th. The transportation company reported $1.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.03). CSX had a net margin of 27.87% and a return on equity of 26.96%. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the business posted $1.01 earnings per share. CSX’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities analysts predict that CSX Co. will post 4.11 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.39%. CSX’s dividend payout ratio is presently 25.00%.

A number of analysts recently weighed in on the stock. TD Securities reduced their price objective on shares of CSX from $81.00 to $77.00 and set a “hold” rating on the stock in a research report on Wednesday, July 17th. UBS Group reduced their target price on shares of CSX from $81.00 to $75.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 17th. Goldman Sachs Group began coverage on shares of CSX in a research report on Wednesday, July 10th. They set a “neutral” rating and a $86.00 target price on the stock. Raymond James reduced their target price on shares of CSX from $84.00 to $81.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada reduced their target price on shares of CSX to $75.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $77.82.

CSX Company Profile

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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