M Holdings Securities Inc. Makes New Investment in CSX Corporation $CSX

M Holdings Securities Inc. bought a new stake in CSX Corporation (NASDAQ:CSX) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 41,777 shares of the transportation company’s stock, valued at approximately $2,146,000.

A number of other institutional investors have also recently added to or reduced their stakes in CSX. Avantax Planning Partners Inc. raised its holdings in CSX by 16.5% in the third quarter. Avantax Planning Partners Inc. now owns 14,061 shares of the transportation company’s stock valued at $654,000 after buying an additional 1,995 shares during the period. Brighton Jones LLC grew its position in shares of CSX by 5.3% during the 3rd quarter. Brighton Jones LLC now owns 24,012 shares of the transportation company’s stock valued at $1,117,000 after buying an additional 1,211 shares during the last quarter. Ethic Inc. raised its stake in CSX by 12.9% during the third quarter. Ethic Inc. now owns 173,349 shares of the transportation company’s stock worth $8,062,000 after acquiring an additional 19,866 shares during the period. StoneX Group Inc. lifted its holdings in CSX by 81.2% in the third quarter. StoneX Group Inc. now owns 12,171 shares of the transportation company’s stock worth $572,000 after acquiring an additional 5,453 shares during the last quarter. Finally, Ethos Capital Management Inc. lifted its holdings in CSX by 17.2% in the third quarter. Ethos Capital Management Inc. now owns 46,007 shares of the transportation company’s stock worth $2,140,000 after acquiring an additional 6,745 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

NASDAQ CSX opened at $50.48 on Tuesday. The stock’s 50-day moving average price is $48.77 and its two-hundred day moving average price is $45.96. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 1.19. The company has a market cap of $93.05 billion, a PE ratio of 26.16, a PEG ratio of 2.28 and a beta of 1.12. CSX Corporation has a 1 year low of $33.63 and a 1 year high of $53.60.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 21st. The transportation company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.04. CSX had a net margin of 23.97% and a return on equity of 25.94%. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the previous year, the company posted $0.44 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, analysts predict that CSX Corporation will post 2.05 EPS for the current year.

CSX Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wall Street Zen cut shares of CSX from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Citigroup restated a “neutral” rating and set a $54.00 target price (up from $53.00) on shares of CSX in a report on Friday, October 23rd. JPMorgan Chase & Co. raised their target price on shares of CSX from $57.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, October 22nd. Benchmark reiterated a “buy” rating and set a $54.00 price objective (up from $48.00) on shares of CSX in a research report on Wednesday, July 15th. Finally, Susquehanna raised their price objective on CSX from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Tuesday, October 27th. Eighteen investment 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 MarketBeat, CSX has a consensus rating of “Moderate Buy” and a consensus price target of $52.20.

Insider Activity at CSX

In other CSX news, Director John Zillmer sold 19,500 shares of CSX stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $51.24, for a total transaction of $999,180.00. Following the transaction, the director owned 334,214 shares of the company’s stock, valued at $17,125,125.36. The trade was a 5.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.30% of the stock is currently owned by company insiders.

CSX Company Profile

CSX Corporation is a freight transportation company that operates one of the largest rail networks in the eastern United States. Its rail system serves customers across much of the eastern U.S., as well as parts of Canada, and connects with other railroads and ports.

CSX transports a broad range of goods, including chemicals, agricultural and food products, automobiles, minerals, forest products, coal and intermodal freight. Its services include rail transportation, intermodal shipping that combines rail and truck transport, and related logistics and supply-chain services.

The company was formed in 1980 through the merger of Chessie System and Seaboard Coast Line Industries, combining railroads with histories dating to the 19th century.