Landscape Capital Management L.L.C. Purchases Shares of 21,822 CSX Co. (NASDAQ:CSX)

Landscape Capital Management L.L.C. acquired a new position in shares of CSX Co. (NASDAQ:CSX) 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) 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.