Cambridge Investment Research Advisors Inc. increased its holdings in shares of CSX Co. (NASDAQ:CSX) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,693 shares of the transportation company’s stock after buying an additional 2,120 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in CSX were worth $6,123,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Morningstar Investment Services LLC bought a new stake in shares of CSX during the second quarter worth approximately $204,000. Meeder Asset Management Inc. bought a new stake in CSX in the second quarter valued at approximately $376,000. Millennium Management LLC increased its stake in CSX by 13.3% in the second quarter. Millennium Management LLC now owns 4,847,225 shares of the transportation company’s stock valued at $309,156,000 after purchasing an additional 569,310 shares in the last quarter. Hartford Financial Management Inc. increased its stake in CSX by 56.0% in the second quarter. Hartford Financial Management Inc. now owns 109,736 shares of the transportation company’s stock valued at $6,999,000 after purchasing an additional 39,409 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in CSX by 12.8% in the second quarter. State of Alaska Department of Revenue now owns 128,747 shares of the transportation company’s stock valued at $8,209,000 after purchasing an additional 14,610 shares in the last quarter. 76.20% of the stock is owned by institutional investors and hedge funds.
Several brokerages have commented on CSX. BidaskClub raised shares of CSX from a “hold” rating to a “buy” rating in a research note on Friday, November 2nd. Morgan Stanley set a $55.00 target price on shares of CSX and gave the company a “sell” rating in a research note on Monday, October 22nd. Stephens reaffirmed a “buy” rating and issued a $86.00 target price on shares of CSX in a research note on Monday, October 22nd. Argus upped their target price on shares of CSX to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 18th. Finally, TD Securities upped their target price on shares of CSX from $76.00 to $80.00 and gave the company a “hold” rating in a research note on Wednesday, October 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $77.60.
CSX stock opened at $70.66 on Friday. The company has a market capitalization of $61.06 billion, a PE ratio of 20.78, a P/E/G ratio of 1.43 and a beta of 1.27. CSX Co. has a twelve month low of $48.26 and a twelve month high of $76.24. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 1.00.
CSX (NASDAQ:CSX) last released its quarterly earnings results on Tuesday, October 16th. The transportation company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.11. The company had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.05 billion. CSX had a net margin of 55.19% and a return on equity of 21.38%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 earnings per share. As a group, equities research analysts predict that CSX Co. will post 3.8 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.25%. The ex-dividend date 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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