Landscape Capital Management L.L.C. acquired a new position in shares of CSX Co. (NASDAQ:CSX – Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 21,822 shares of the transportation company’s stock, valued at approximately $754,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the company. Avior Wealth Management LLC increased its holdings in shares of CSX by 2.5% in the third quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock valued at $407,000 after purchasing an additional 293 shares during the last quarter. Western Wealth Management LLC lifted its stake in shares of CSX by 0.8% during the 2nd quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock worth $1,208,000 after buying an additional 295 shares during the last quarter. TriaGen Wealth Management LLC boosted its holdings in shares of CSX by 2.7% during the 2nd quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock worth $385,000 after buying an additional 300 shares during the period. Lake Street Advisors Group LLC grew its stake in CSX by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock valued at $595,000 after buying an additional 306 shares during the last quarter. Finally, J.W. Cole Advisors Inc. raised its holdings in CSX by 0.9% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock valued at $1,222,000 after acquiring an additional 309 shares during the period. 73.57% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the company. Benchmark restated a “buy” rating and set a $40.00 price objective on shares of CSX in a report on Wednesday, August 7th. Royal Bank of Canada reduced their price target on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. JPMorgan Chase & Co. increased their price objective on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. BMO Capital Markets reduced their target price on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, TD Cowen lowered their price target 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. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.78.
CSX Stock Performance
CSX stock opened at $35.78 on Friday. 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 cap of $69.00 billion, a PE ratio of 19.24, a P/E/G ratio of 2.24 and a beta of 1.19. CSX Co. has a 12-month low of $31.65 and a 12-month high of $40.12. The business’s 50-day moving average price is $34.48 and its two-hundred day moving average price is $33.94.
CSX (NASDAQ:CSX – Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. CSX’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 earnings per share. As a group, analysts expect that CSX Co. will post 1.84 earnings per share for the current fiscal year.
CSX Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.34%. CSX’s dividend payout ratio is currently 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.
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