Chicago Partners Investment Group LLC raised its stake in CSX Co. (NASDAQ:CSX) by 35.7% in the 3rd quarter, Holdings Channel reports. The firm owned 3,805 shares of the transportation company’s stock after acquiring an additional 1,000 shares during the period. Chicago Partners Investment Group LLC’s holdings in CSX were worth $250,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zions Bancorporation bought a new stake in shares of CSX during the 3rd quarter valued at about $105,000. Acropolis Investment Management LLC bought a new stake in shares of CSX during the 3rd quarter valued at about $107,000. LeJeune Puetz Investment Counsel LLC bought a new stake in shares of CSX during the 3rd quarter valued at about $112,000. Psagot Investment House Ltd. bought a new stake in shares of CSX during the 3rd quarter valued at about $128,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of CSX during the 3rd quarter valued at about $138,000. 76.20% of the stock is owned by institutional investors.
Several research firms have commented on CSX. Bank of America upped their target price on shares of CSX from $77.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, October 1st. Citigroup upped their target price on shares of CSX from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, October 1st. BMO Capital Markets cut shares of CSX from an “outperform” rating to a “market perform” rating and set a $65.00 target price for the company. in a research report on Wednesday, September 5th. They noted that the move was a valuation call. Stephens restated a “buy” rating and issued a $85.00 target price on shares of CSX in a research report on Tuesday, October 9th. Finally, Morgan Stanley upped their target price on shares of CSX from $52.00 to $55.00 and gave the stock a “sell” rating in a research report on Tuesday, October 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $77.60.
Shares of NASDAQ:CSX opened at $70.66 on Friday. The company has a market capitalization of $61.06 billion, a PE ratio of 20.78, a P/E/G ratio of 1.43 and a beta of 1.27. CSX Co. has a twelve month low of $48.26 and a twelve month high of $76.24. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 1.00.
CSX (NASDAQ:CSX) last issued its quarterly earnings results on Tuesday, October 16th. The transportation company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. The company had revenue of $3.13 billion during 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 business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 EPS. Equities analysts forecast that CSX Co. will post 3.8 earnings per share for the current year.
The business also recently declared 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. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Thursday, November 29th. CSX’s dividend payout ratio is currently 38.26%.
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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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