442,599 Shares in CSX Co. (CSX) Purchased by ClariVest Asset Management LLC

ClariVest Asset Management LLC purchased a new stake in shares of CSX Co. (NASDAQ:CSX) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 442,599 shares of the transportation company’s stock, valued at approximately $32,775,000. ClariVest Asset Management LLC owned about 0.05% of CSX at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Northwest Bancshares Inc. raised its position in shares of CSX by 14.2% in the 3rd quarter. Northwest Bancshares Inc. now owns 5,630 shares of the transportation company’s stock worth $417,000 after acquiring an additional 700 shares in the last quarter. Captrust Financial Advisors raised its position in shares of CSX by 10.7% in the 2nd quarter. Captrust Financial Advisors now owns 7,659 shares of the transportation company’s stock worth $488,000 after acquiring an additional 741 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of CSX by 0.8% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 96,848 shares of the transportation company’s stock worth $6,177,000 after acquiring an additional 748 shares in the last quarter. Sumitomo Life Insurance Co. raised its position in shares of CSX by 4.1% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 19,295 shares of the transportation company’s stock worth $1,231,000 after acquiring an additional 768 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of CSX by 1.0% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 80,315 shares of the transportation company’s stock worth $5,947,000 after acquiring an additional 784 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

CSX stock opened at $70.28 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $58.81 billion, a P/E ratio of 20.01, a P/E/G ratio of 1.37 and a beta of 1.27. CSX Co. has a twelve month low of $48.26 and a twelve month high of $76.24.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Tuesday, October 16th. The transportation company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.11. The company had revenue of $3.13 billion for 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%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 EPS. On average, analysts expect that CSX Co. will post 3.8 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.88 annualized dividend and a yield of 1.25%. CSX’s dividend payout ratio is 38.26%.

Several brokerages have recently issued reports on CSX. BidaskClub raised CSX from a “hold” rating to a “buy” rating in a research report on Friday, November 2nd. Morgan Stanley set a $55.00 target price on CSX and gave the stock a “sell” rating in a research report on Monday, October 22nd. Stephens reissued a “buy” rating and issued a $86.00 target price on shares of CSX in a research report on Monday, October 22nd. Argus increased their target price on CSX to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 18th. Finally, TD Securities increased their target price on CSX from $76.00 to $80.00 and gave the stock a “hold” rating in a research report on Wednesday, October 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $77.60.

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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.

See Also: Price to Earnings Ratio (PE) Basics

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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