Cullinan Associates Inc. increased its position in shares of CSX Co. (NASDAQ:CSX) by 8.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,370 shares of the transportation company’s stock after acquiring an additional 2,835 shares during the quarter. Cullinan Associates Inc.’s holdings in CSX were worth $2,619,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. TIAA FSB raised its stake in shares of CSX by 11.0% during the 3rd quarter. TIAA FSB now owns 83,854 shares of the transportation company’s stock worth $6,210,000 after acquiring an additional 8,290 shares in the last quarter. Westbourne Investment Advisors Inc. acquired a new position in CSX during the 3rd quarter valued at approximately $306,000. First Citizens Bank & Trust Co. acquired a new position in CSX during the 3rd quarter valued at approximately $217,000. Sonora Investment Management LLC increased its stake in CSX by 57.2% during the 3rd quarter. Sonora Investment Management LLC now owns 56,518 shares of the transportation company’s stock valued at $4,185,000 after purchasing an additional 20,575 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new position in CSX during the 3rd quarter valued at approximately $928,000. Hedge funds and other institutional investors own 74.82% of the company’s stock.
A number of research analysts have issued reports on the stock. Bank of America upped their price target on shares of CSX from $77.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, October 1st. Citigroup upped their price target on shares of CSX from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, October 1st. BMO Capital Markets lowered shares of CSX from an “outperform” rating to a “market perform” rating and set a $65.00 price target on the stock. in a research note on Wednesday, September 5th. They noted that the move was a valuation call. Stephens restated a “buy” rating and set a $85.00 price target on shares of CSX in a research note on Tuesday, October 9th. Finally, Morgan Stanley upped their price target on shares of CSX from $52.00 to $55.00 and gave the company a “sell” rating in a research note on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. CSX has an average rating of “Buy” and an average target price of $77.55.
CSX stock opened at $67.94 on Friday. The firm has a market capitalization of $60.73 billion, a PE ratio of 29.54, a price-to-earnings-growth ratio of 1.41 and a beta of 1.24. The company has a current ratio of 1.43, a quick ratio of 1.48 and a debt-to-equity ratio of 1.00. CSX Co. has a 12 month low of $48.26 and a 12 month high of $76.24.
CSX (NASDAQ:CSX) last released its quarterly earnings data on Tuesday, October 16th. The transportation company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.94 by $0.11. The business had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.05 billion. CSX had a net margin of 55.19% and a return on equity of 21.38%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 EPS. On average, research analysts expect that CSX Co. will post 3.76 EPS for the current fiscal 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 issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Thursday, November 29th. CSX’s dividend payout ratio (DPR) is currently 38.26%.
CSX Company Profile
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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