Sage Capital Advisors llc Grows Position in CSX Co. (NASDAQ:CSX)

Sage Capital Advisors llc grew its stake in CSX Co. (NASDAQ:CSX) by 622.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,190 shares of the transportation company’s stock after acquiring an additional 95,793 shares during the quarter. CSX comprises approximately 1.3% of Sage Capital Advisors llc’s portfolio, making the stock its 25th biggest holding. Sage Capital Advisors llc’s holdings in CSX were worth $3,792,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in CSX. Soroban Capital Partners LP grew its position in shares of CSX by 0.8% in the fourth quarter. Soroban Capital Partners LP now owns 58,100,864 shares of the transportation company’s stock valued at $1,799,965,000 after purchasing an additional 470,000 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in CSX by 20.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,565,862 shares of the transportation company’s stock worth $1,543,883,000 after buying an additional 8,797,783 shares during the last quarter. Geode Capital Management LLC grew its holdings in CSX by 1.8% in the 1st quarter. Geode Capital Management LLC now owns 39,236,265 shares of the transportation company’s stock valued at $1,172,727,000 after buying an additional 690,267 shares during the period. Moneta Group Investment Advisors LLC increased its stake in shares of CSX by 101,926.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 23,323,241 shares of the transportation company’s stock valued at $722,554,000 after acquiring an additional 23,300,381 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of CSX by 15.2% during the 4th quarter. Morgan Stanley now owns 22,317,267 shares of the transportation company’s stock worth $691,389,000 after acquiring an additional 2,940,824 shares during the period. Institutional investors and hedge funds own 72.76% of the company’s stock.

Analyst Upgrades and Downgrades

CSX has been the subject of a number of recent analyst reports. Bank of America upgraded shares of CSX from a “neutral” rating to a “buy” rating and boosted their target price for the company from $34.00 to $36.00 in a report on Friday, September 8th. UBS Group raised CSX from a “neutral” rating to a “buy” rating and increased their target price for the stock from $33.00 to $37.00 in a research report on Thursday, June 1st. Stephens reissued an “overweight” rating and set a $39.00 price target on shares of CSX in a research report on Friday, July 21st. Susquehanna dropped their price target on CSX from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, July 21st. Finally, Benchmark reaffirmed a “buy” rating and issued a $37.00 price objective on shares of CSX in a research note on Friday, July 21st. Nine investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.43.

CSX Stock Down 1.9 %

CSX traded down $0.60 on Tuesday, reaching $30.50. The company’s stock had a trading volume of 3,114,802 shares, compared to its average volume of 13,099,461. CSX Co. has a 1 year low of $25.80 and a 1 year high of $34.38. The business’s 50 day moving average is $31.65 and its 200 day moving average is $31.37. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.42 and a quick ratio of 1.21. The stock has a market cap of $61.19 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 2.66 and a beta of 1.22.

CSX (NASDAQ:CSX) last released its earnings results on Thursday, July 20th. The transportation company reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.73 billion. CSX had a return on equity of 32.82% and a net margin of 27.36%. The business’s revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 EPS. As a group, research analysts forecast that CSX Co. will post 1.9 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were paid a $0.11 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.44%. CSX’s dividend payout ratio (DPR) is presently 22.22%.

CSX Profile

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 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.