Warren Averett Asset Management LLC purchased a new stake in CSX Co. (NASDAQ:CSX) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,698 shares of the transportation company’s stock, valued at approximately $348,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Morningstar Investment Services LLC purchased a new position in CSX during the second quarter worth about $204,000. Meeder Asset Management Inc. purchased a new position in CSX during the second quarter worth about $376,000. Millennium Management LLC raised its holdings in CSX by 13.3% during the second quarter. Millennium Management LLC now owns 4,847,225 shares of the transportation company’s stock worth $309,156,000 after purchasing an additional 569,310 shares in the last quarter. Hartford Financial Management Inc. raised its holdings in CSX by 56.0% during the second quarter. Hartford Financial Management Inc. now owns 109,736 shares of the transportation company’s stock worth $6,999,000 after purchasing an additional 39,409 shares in the last quarter. Finally, 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 worth $8,209,000 after purchasing an additional 14,610 shares in the last quarter. 76.20% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have weighed in on CSX shares. Scotiabank set a $72.00 target price on shares of CSX and gave the stock a “hold” rating in a research report on Wednesday, July 18th. Stifel Nicolaus upped their target price on shares of CSX from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, July 18th. BidaskClub upgraded shares of CSX from a “hold” rating to a “buy” rating in a research report on Wednesday, August 15th. Raymond James upped their target price on shares of CSX from $70.00 to $75.00 and gave the stock a “$69.00” rating in a research report on Wednesday, July 18th. Finally, Cowen restated a “$69.00” rating and set a $74.00 target price on shares of CSX in a research report on Wednesday, July 18th. One investment 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. The stock presently has a consensus rating of “Buy” and an average price target of $77.60.
CSX (NASDAQ:CSX) last released its quarterly earnings results 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 analyst estimates of $3.05 billion. CSX had a net margin of 55.19% and a return on equity of 21.38%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 earnings per share. As a group, sell-side analysts anticipate that CSX Co. will post 3.8 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be given a $0.22 dividend. The ex-dividend date is Thursday, November 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.23%. CSX’s dividend payout ratio is presently 38.26%.
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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