Los Angeles Capital Management & Equity Research Inc. increased its holdings in CSX Co. (NASDAQ:CSX) by 3,275.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 275,141 shares of the transportation company’s stock after purchasing an additional 266,990 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in CSX were worth $20,374,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Cubist Systematic Strategies LLC raised its holdings in shares of CSX by 120.8% during the first quarter. Cubist Systematic Strategies LLC now owns 3,533 shares of the transportation company’s stock worth $197,000 after acquiring an additional 1,933 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in CSX by 12.8% during 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 buying an additional 14,610 shares in the last quarter. Xact Kapitalforvaltning AB raised its holdings in CSX by 2.5% during the second quarter. Xact Kapitalforvaltning AB now owns 169,679 shares of the transportation company’s stock valued at $10,822,000 after buying an additional 4,219 shares in the last quarter. Bremer Trust National Association bought a new position in CSX during the second quarter valued at about $281,000. Finally, Chesley Taft & Associates LLC bought a new position in CSX during the second quarter valued at about $210,000. Institutional investors own 76.20% of the company’s stock.
CSX stock opened at $70.66 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.29 and a current ratio of 1.43. The stock has a market capitalization of $61.06 billion, a PE ratio of 30.72, a price-to-earnings-growth 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.
CSX (NASDAQ:CSX) last posted its quarterly earnings data on Tuesday, October 16th. The transportation company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. The business had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.05 billion. CSX had a return on equity of 21.38% and a net margin of 55.19%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. Analysts anticipate that CSX Co. will post 3.8 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.25%. CSX’s payout ratio is presently 38.26%.
Several research firms have weighed in on CSX. BidaskClub upgraded CSX from a “hold” rating to a “buy” rating in a report on Friday, November 2nd. Cowen restated a “$69.00” rating and set a $74.00 target price on shares of CSX in a report on Wednesday, July 18th. UBS Group set a $82.00 target price on CSX and gave the company a “buy” rating in a report on Wednesday, July 18th. Stephens restated a “buy” rating and set a $86.00 target price on shares of CSX in a report on Monday, October 22nd. Finally, Royal Bank of Canada restated an “outperform” rating on shares of CSX in a report on Wednesday, October 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. CSX currently has an average rating of “Buy” and a consensus target price of $77.60.
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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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