DNB Asset Management AS reduced its stake in shares of CSX Co. (NASDAQ:CSX) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 105,521 shares of the transportation company’s stock after selling 2,343 shares during the period. DNB Asset Management AS’s holdings in CSX were worth $7,814,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in CSX. United Capital Financial Advisers LLC grew its stake in shares of CSX by 14.2% during the 1st quarter. United Capital Financial Advisers LLC now owns 76,263 shares of the transportation company’s stock worth $4,249,000 after acquiring an additional 9,489 shares in the last quarter. Natixis grew its stake in shares of CSX by 156.4% during the 1st quarter. Natixis now owns 86,798 shares of the transportation company’s stock worth $4,836,000 after acquiring an additional 52,949 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of CSX by 3.0% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 94,711 shares of the transportation company’s stock worth $5,272,000 after acquiring an additional 2,797 shares in the last quarter. LPL Financial LLC grew its stake in shares of CSX by 35.2% during the 1st quarter. LPL Financial LLC now owns 171,801 shares of the transportation company’s stock worth $9,571,000 after acquiring an additional 44,744 shares in the last quarter. Finally, Mariner LLC bought a new position in shares of CSX during the 1st quarter worth approximately $402,000. Hedge funds and other institutional investors own 74.62% of the company’s stock.
CSX stock opened at $70.20 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.66 and a quick ratio of 1.48. CSX Co. has a one year low of $48.26 and a one year high of $76.24. The firm has a market cap of $63.59 billion, a price-to-earnings ratio of 30.51, a P/E/G ratio of 1.54 and a beta of 1.24.
CSX (NASDAQ:CSX) last released its quarterly earnings data on Tuesday, July 17th. The transportation company reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.15. CSX had a net margin of 53.27% and a return on equity of 19.31%. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period in the previous year, the business posted $0.64 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that CSX Co. will post 3.61 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.88 dividend on an annualized basis and a yield of 1.25%. CSX’s dividend payout ratio (DPR) is 38.26%.
CSX has been the subject of several analyst reports. BidaskClub cut shares of CSX from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 15th. Zacks Investment Research raised shares of CSX from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research note on Tuesday, June 19th. Citigroup raised their target price on shares of CSX from $67.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, June 25th. ValuEngine raised shares of CSX from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Finally, Loop Capital raised shares of CSX from a “hold” rating to a “buy” rating and raised their target price for the company from $65.00 to $78.00 in a research note on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the stock. CSX presently has a consensus rating of “Buy” and an average target price of $72.43.
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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