VestGen Advisors LLC Purchases 25,559 Shares of CSX Corporation $CSX

Key Points

• VestGen Advisors increased its CSX position by 152.2% in the third quarter, purchasing 25,559 additional shares and bringing its holdings to 42,348 shares valued at approximately $1.97 million. Institutional investors collectively own 73.57% of the company.
• Analyst sentiment remains favorable, with 18 Buy ratings, seven Holds and one Sell rating, resulting in a consensus “Moderate Buy” rating and a $52.20 price target.
• CSX reported quarterly adjusted earnings of $0.57 per share, beating estimates by $0.04, while revenue rose 12% year over year to $4.02 billion. The company also declared a quarterly dividend of $0.14 per share, equivalent to a 1.1% annualized yield.

VestGen Advisors LLC grew its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 152.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,348 shares of the transportation company's stock after acquiring an additional 25,559 shares during the period. VestGen Advisors LLC's holdings in CSX were worth $1,970,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CSX. Washington Trust Advisors Inc. raised its holdings in shares of CSX by 7.2% during the second quarter. Washington Trust Advisors Inc. now owns 3,142 shares of the transportation company's stock valued at $149,000 after purchasing an additional 211 shares during the period. BLB&B Advisors LLC boosted its position in shares of CSX by 0.7% during the 3rd quarter. BLB&B Advisors LLC now owns 30,452 shares of the transportation company's stock worth $1,416,000 after purchasing an additional 215 shares in the last quarter. PFG Private Wealth Management LLC grew its stake in shares of CSX by 2.7% in the 3rd quarter. PFG Private Wealth Management LLC now owns 8,309 shares of the transportation company's stock valued at $386,000 after buying an additional 217 shares during the period. Kintegral Advisory LLC grew its stake in shares of CSX by 0.6% in the 3rd quarter. Kintegral Advisory LLC now owns 40,384 shares of the transportation company's stock valued at $1,878,000 after buying an additional 228 shares during the period. Finally, Cyndeo Wealth Partners LLC grew its stake in shares of CSX by 1.9% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 13,194 shares of the transportation company's stock valued at $614,000 after buying an additional 244 shares during the period. 73.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. BMO Capital Markets reiterated a "market perform" rating and issued a $52.00 target price (up from $49.00) on shares of CSX in a report on Thursday, July 23rd. Robert W. Baird upped their price objective on shares of CSX from $49.00 to $53.00 and gave the stock an "outperform" rating in a report on Tuesday, July 7th. Wall Street Zen lowered shares of CSX from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Wells Fargo & Company lifted their price objective on shares of CSX from $50.00 to $54.00 and gave the company an "overweight" rating in a report on Wednesday, July 8th. Finally, Weiss Ratings raised shares of CSX from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.20.

Insiders Place Their Bets

In related news, Director John Zillmer sold 19,500 shares of the business's stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $51.24, for a total value of $999,180.00. Following the sale, the director directly owned 334,214 shares in the company, valued at approximately $17,125,125.36. The trade was a 5.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.30% of the company's stock.

CSX Trading Down 0.5%

Shares of CSX stock opened at $51.99 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 1.19. The firm has a market cap of $95.84 billion, a P/E ratio of 27.07, a PEG ratio of 2.30 and a beta of 1.21. The company has a 50 day moving average of $48.86 and a 200-day moving average of $45.51. CSX Corporation has a 12-month low of $33.63 and a 12-month high of $53.60.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The transportation company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.53 by $0.04. CSX had a return on equity of 25.94% and a net margin of 23.97%. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the prior year, the business earned $0.44 earnings per share. CSX's revenue for the quarter was up 12.0% on a year-over-year basis. Sell-side analysts anticipate that CSX Corporation will post 2.04 earnings per share for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.56 annualized dividend and a yield of 1.1%. CSX's dividend payout ratio (DPR) is 29.02%.

About CSX

CSX Corporation is a transportation company whose primary business is freight railroading through its CSX Transportation subsidiary. The company operates an extensive rail network across the eastern United States, serving major industrial centers, population hubs, ports and distribution markets.

CSX transports a broad range of products, including chemicals, agricultural and food products, forest products, minerals, metals, automotive goods and other manufactured merchandise. Its services also include intermodal transportation, which combines rail service with trucks and containers, as well as the movement of coal and other bulk commodities.

The company traces its roots to the formation of CSX Corporation in 1980 through the merger of Chessie System and Seaboard Coast Line Industries.

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