Truvestments Capital LLC Takes $149,000 Position in CSX Co. (NASDAQ:CSX)

Truvestments Capital LLC bought a new position in shares of CSX Co. (NASDAQ:CSX) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,329 shares of the transportation company’s stock, valued at approximately $149,000.

A number of other institutional investors have also added to or reduced their stakes in CSX. Advisors Asset Management Inc. raised its stake in CSX by 581.7% in the first quarter. Advisors Asset Management Inc. now owns 5,283 shares of the transportation company’s stock valued at $196,000 after buying an additional 4,508 shares during the period. Tidal Investments LLC increased its holdings in shares of CSX by 3.7% during the 1st quarter. Tidal Investments LLC now owns 131,410 shares of the transportation company’s stock worth $4,869,000 after acquiring an additional 4,669 shares during the last quarter. Comerica Bank raised its stake in CSX by 0.6% in the 1st quarter. Comerica Bank now owns 424,950 shares of the transportation company’s stock valued at $15,753,000 after acquiring an additional 2,744 shares during the period. LBP AM SA acquired a new stake in CSX during the 1st quarter valued at $1,504,000. Finally, iA Global Asset Management Inc. boosted its position in CSX by 54.8% during the first quarter. iA Global Asset Management Inc. now owns 294,642 shares of the transportation company’s stock worth $10,922,000 after purchasing an additional 104,302 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. BMO Capital Markets dropped their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. JPMorgan Chase & Co. increased their price target on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Wells Fargo & Company reduced their price objective on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Stifel Nicolaus lowered their target price on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Finally, Susquehanna reduced their price target on CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average price target of $38.78.

CSX Trading Up 0.2 %

NASDAQ:CSX opened at $36.69 on Wednesday. CSX Co. has a one year low of $31.65 and a one year high of $40.12. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The firm has a 50-day moving average of $34.59 and a 200-day moving average of $33.97. The company has a market cap of $70.75 billion, a PE ratio of 19.73, a PEG ratio of 2.27 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter last year, the business posted $0.42 earnings per share. The business’s revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts expect that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid 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 dividend yield of 1.31%. CSX’s payout ratio is 25.81%.

CSX Profile

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.