Pratt Collard Advisory Partners LLC acquired a new stake in CSX Co. (NASDAQ:CSX) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,090 shares of the transportation company’s stock, valued at approximately $229,000.
Several other hedge funds have also recently added to or reduced their stakes in the business. Cullinan Associates Inc. increased its position in shares of CSX by 8.7% during the third quarter. Cullinan Associates Inc. now owns 35,370 shares of the transportation company’s stock valued at $2,619,000 after buying an additional 2,835 shares during the period. TIAA FSB increased its position in shares of CSX by 11.0% during the third quarter. TIAA FSB now owns 83,854 shares of the transportation company’s stock valued at $6,210,000 after buying an additional 8,290 shares during the period. Westbourne Investment Advisors Inc. purchased a new position in shares of CSX during the third quarter valued at about $306,000. First Citizens Bank & Trust Co. purchased a new position in shares of CSX during the third quarter valued at about $217,000. Finally, Sonora Investment Management LLC increased its position in shares of CSX by 57.2% during the third quarter. Sonora Investment Management LLC now owns 56,518 shares of the transportation company’s stock valued at $4,185,000 after buying an additional 20,575 shares during the period. Hedge funds and other institutional investors own 74.82% of the company’s stock.
CSX has been the topic of several research analyst reports. Stephens reiterated a “buy” rating and set a $85.00 price target on shares of CSX in a research report on Tuesday, October 9th. BidaskClub cut shares of CSX from a “buy” rating to a “hold” rating in a research report on Friday, August 31st. Stifel Nicolaus boosted their price objective on shares of CSX from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, July 18th. Loop Capital raised shares of CSX from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $65.00 to $78.00 in a research note on Wednesday, July 18th. Finally, Morgan Stanley boosted their price objective on shares of CSX from $49.00 to $52.00 and gave the stock a “sell” rating in a research note on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $77.55.
Shares of NASDAQ CSX traded down $0.72 during midday trading on Friday, hitting $67.93. The stock had a trading volume of 1,314,937 shares, compared to its average volume of 6,466,024. The company has a market cap of $60.73 billion, a PE ratio of 30.03, a P/E/G ratio of 1.41 and a beta of 1.24. CSX Co. has a 52 week low of $48.26 and a 52 week high of $76.24. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.48 and a current ratio of 1.43.
CSX (NASDAQ:CSX) last issued its earnings results on Tuesday, October 16th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.11. The firm 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 was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. On average, analysts forecast that CSX Co. will post 3.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.30%. 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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