Kovitz Investment Group Partners LLC lifted its stake in CSX Co. (NASDAQ:CSX - Free Report) by 34.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 114,042 shares of the transportation company's stock after buying an additional 29,238 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in CSX were worth $3,938,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Valley Wealth Managers Inc. increased its holdings in shares of CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company's stock valued at $26,000 after purchasing an additional 480 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of CSX in the second quarter valued at approximately $26,000. MFA Wealth Advisors LLC acquired a new stake in shares of CSX in the second quarter valued at approximately $27,000. Fairscale Capital LLC acquired a new stake in shares of CSX in the second quarter valued at approximately $32,000. Finally, Morton Brown Family Wealth LLC acquired a new stake in shares of CSX in the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 73.57% of the company's stock.
CSX Stock Performance
Shares of CSX traded down $0.48 during midday trading on Monday, reaching $33.97. 10,630,168 shares of the stock were exchanged, compared to its average volume of 11,655,554. The business's 50-day moving average price is $34.82 and its 200 day moving average price is $34.09. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. CSX Co. has a twelve month low of $31.74 and a twelve month high of $40.12. The company has a market capitalization of $65.51 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 2.19 and a beta of 1.20.
CSX (NASDAQ:CSX - Get Free Report) last posted its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.02). The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The firm's revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 EPS. On average, sell-side analysts expect that CSX Co. will post 1.84 EPS for the current fiscal year.
CSX Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Friday, November 29th. CSX's dividend payout ratio (DPR) is presently 25.81%.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the company. Evercore ISI cut their target price on CSX from $38.00 to $37.00 and set an "outperform" rating for the company in a research note on Thursday, October 17th. Stifel Nicolaus cut their target price on CSX from $39.00 to $37.00 and set a "buy" rating for the company in a research note on Thursday, October 17th. BMO Capital Markets cut their target price on CSX from $40.00 to $39.00 and set an "outperform" rating for the company in a research note on Thursday, October 17th. Susquehanna cut their target price on CSX from $42.00 to $40.00 and set a "positive" rating for the company in a research note on Thursday, October 17th. Finally, Barclays lifted their price objective on CSX from $40.00 to $41.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, CSX currently has an average rating of "Moderate Buy" and an average target price of $38.78.
Read Our Latest Research Report on CSX
About CSX
(
Free Report)
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.
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