Campbell & CO Investment Adviser LLC Takes Position in CSX Co. (NASDAQ:CSX)

Campbell & CO Investment Adviser LLC bought a new stake in CSX Co. (NASDAQ:CSX) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,286 shares of the transportation company’s stock, valued at approximately $411,000.

Other institutional investors have also recently bought and sold shares of the company. Hodges Capital Management Inc. purchased a new stake in shares of CSX during the third quarter worth $784,000. Diversified Trust Co lifted its position in shares of CSX by 58.6% during the third quarter. Diversified Trust Co now owns 8,527 shares of the transportation company’s stock worth $662,000 after acquiring an additional 3,151 shares in the last quarter. Coastline Trust Co lifted its position in shares of CSX by 4.3% during the third quarter. Coastline Trust Co now owns 24,410 shares of the transportation company’s stock worth $1,896,000 after acquiring an additional 1,015 shares in the last quarter. Raymond James Trust N.A. lifted its position in shares of CSX by 1.5% during the third quarter. Raymond James Trust N.A. now owns 15,848 shares of the transportation company’s stock worth $1,230,000 after acquiring an additional 240 shares in the last quarter. Finally, Allred Capital Management LLC lifted its position in shares of CSX by 17.5% during the third quarter. Allred Capital Management LLC now owns 4,700 shares of the transportation company’s stock worth $365,000 after acquiring an additional 699 shares in the last quarter. Institutional investors and hedge funds own 73.51% of the company’s stock.

Shares of NASDAQ:CSX opened at $80.11 on Friday. The stock’s 50-day moving average price is $77.73 and its 200-day moving average price is $70.59. CSX Co. has a 12-month low of $46.81 and a 12-month high of $81.40. The stock has a market capitalization of $61.29 billion, a P/E ratio of 21.54, a price-to-earnings-growth ratio of 2.86 and a beta of 1.14. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 1.33.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.01. CSX had a return on equity of 24.24% and a net margin of 26.39%. The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the firm earned $1.08 earnings per share. As a group, research analysts predict that CSX Co. will post 3.57 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be paid a dividend of $0.26 per share. The ex-dividend date is Friday, November 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.30%. CSX’s dividend payout ratio (DPR) is currently 24.94%.

Several equities research analysts have issued reports on CSX shares. Credit Suisse Group increased their target price on CSX from $78.00 to $83.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. They noted that the move was a valuation call. BidaskClub upgraded CSX from a “hold” rating to a “buy” rating in a research report on Saturday. Atlantic Securities upgraded CSX from a “neutral” rating to an “overweight” rating and set a $92.00 price objective on the stock in a research report on Wednesday, September 23rd. Citigroup increased their price objective on CSX from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Finally, Benchmark upgraded CSX from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research report on Friday, September 25th. Eight investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $79.28.

In related news, EVP Nathan D. Goldman sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $75.54, for a total value of $1,888,500.00. Following the sale, the executive vice president now directly owns 100,174 shares of the company’s stock, valued at $7,567,143.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Diana B. Sorfleet sold 36,836 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $75.30, for a total value of $2,773,750.80. Following the completion of the sale, the chief accounting officer now directly owns 59,064 shares in the company, valued at $4,447,519.20. The disclosure for this sale can be found here. Insiders have sold 82,336 shares of company stock worth $6,140,916 over the last ninety days. Insiders own 0.58% of the company’s stock.

CSX Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

Further Reading: Stochastic Momentum Index (SMI)

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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