CSX Co. (NASDAQ:CSX) Holdings Raised by Providence Capital Advisors LLC

Providence Capital Advisors LLC boosted its stake in CSX Co. (NASDAQ:CSX) by 3.3% in the third quarter, Holdings Channel reports. The institutional investor owned 180,733 shares of the transportation company’s stock after acquiring an additional 5,700 shares during the quarter. Providence Capital Advisors LLC’s holdings in CSX were worth $6,241,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Interval Partners LP raised its holdings in shares of CSX by 849.0% during the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock valued at $171,222,000 after purchasing an additional 4,579,344 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of CSX during the 2nd quarter valued at $116,430,000. Assenagon Asset Management S.A. raised its holdings in shares of CSX by 318.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock valued at $112,946,000 after purchasing an additional 2,489,329 shares in the last quarter. Wulff Hansen & CO. raised its holdings in shares of CSX by 3,243.0% during the 2nd quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after purchasing an additional 2,126,668 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of CSX by 38.7% during the 2nd quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock valued at $225,917,000 after purchasing an additional 1,884,998 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CSX shares. Barclays raised their price target on shares of CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. raised their target price on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Wells Fargo & Company lowered their target price on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 17th. Evercore ISI lowered their target price on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, Royal Bank of Canada lowered their target price on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.78.

CSX Stock Performance

NASDAQ CSX opened at $36.58 on Thursday. 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 market capitalization of $70.54 billion, a price-to-earnings ratio of 19.67, a P/E/G ratio of 2.32 and a beta of 1.19. The company’s fifty day moving average is $34.64 and its two-hundred day moving average is $33.99. CSX Co. has a 52-week low of $31.65 and a 52-week high of $40.12.

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

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.31%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio is currently 25.81%.

CSX Company 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.