O Shaughnessy Asset Management LLC bought a new stake in CSX Co. (NASDAQ:CSX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 156,833 shares of the transportation company’s stock, valued at approximately $11,574,000.
A number of other hedge funds also recently added to or reduced their stakes in the business. Northwest Bancshares Inc. boosted its position in CSX by 14.2% during the third quarter. Northwest Bancshares Inc. now owns 5,630 shares of the transportation company’s stock worth $417,000 after purchasing an additional 700 shares during the period. Captrust Financial Advisors boosted its position in shares of CSX by 10.7% in the second quarter. Captrust Financial Advisors now owns 7,659 shares of the transportation company’s stock valued at $488,000 after acquiring an additional 741 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of CSX by 0.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 96,848 shares of the transportation company’s stock valued at $6,177,000 after acquiring an additional 748 shares during the period. Sumitomo Life Insurance Co. boosted its position in shares of CSX by 4.1% in the second quarter. Sumitomo Life Insurance Co. now owns 19,295 shares of the transportation company’s stock valued at $1,231,000 after acquiring an additional 768 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of CSX by 1.0% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 80,315 shares of the transportation company’s stock valued at $5,947,000 after acquiring an additional 784 shares during the period. 76.20% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on the stock. Bank of America boosted their target price on shares of CSX from $77.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, October 1st. Citigroup boosted their target price on shares of CSX from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, October 1st. BMO Capital Markets cut shares of CSX from an “outperform” rating to a “market perform” rating and set a $65.00 target price for the company. in a research report on Wednesday, September 5th. They noted that the move was a valuation call. Stephens reissued a “buy” rating and issued a $85.00 target price on shares of CSX in a research report on Tuesday, October 9th. Finally, Morgan Stanley boosted their target price on shares of CSX from $52.00 to $55.00 and gave the company a “sell” rating in a research report on Tuesday, October 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. CSX presently has a consensus rating of “Buy” and an average price target of $77.60.
CSX stock opened at $70.66 on Friday. The stock has a market capitalization of $61.06 billion, a P/E ratio of 30.72, a P/E/G ratio of 1.43 and a beta of 1.27. CSX Co. has a 52 week low of $48.26 and a 52 week high of $76.24. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.43 and a quick ratio of 1.29.
CSX (NASDAQ:CSX) last posted its quarterly earnings results on Tuesday, October 16th. The transportation company reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.11. The business had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.05 billion. CSX had a return on equity of 21.38% and a net margin of 55.19%. CSX’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 earnings per share. On average, sell-side analysts predict that CSX Co. will post 3.8 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, November 29th. CSX’s dividend payout ratio (DPR) is presently 38.26%.
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CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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