Providence Capital Advisors LLC increased its holdings in shares of CSX Co. (NASDAQ:CSX – Free Report) by 7.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 158,967 shares of the transportation company’s stock after purchasing an additional 11,500 shares during the period. CSX accounts for 1.4% of Providence Capital Advisors LLC’s investment portfolio, making the stock its 23rd largest holding. Providence Capital Advisors LLC’s holdings in CSX were worth $5,421,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC lifted its stake in shares of CSX by 101,926.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 23,323,241 shares of the transportation company’s stock worth $722,554,000 after acquiring an additional 23,300,381 shares during the period. Norges Bank acquired a new stake in shares of CSX in the 4th quarter worth $621,349,000. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 acquiring an additional 8,797,783 shares during the period. First Trust Advisors LP lifted its stake in shares of CSX by 558.0% in the 1st quarter. First Trust Advisors LP now owns 6,800,925 shares of the transportation company’s stock worth $203,620,000 after acquiring an additional 5,767,302 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of CSX by 395.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,208,520 shares of the transportation company’s stock worth $195,059,000 after acquiring an additional 4,158,204 shares during the period. Institutional investors and hedge funds own 72.76% of the company’s stock.
Analyst Ratings Changes
CSX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upgraded shares of CSX from a “neutral” rating to an “overweight” rating and increased their price target for the company from $37.00 to $40.00 in a report on Wednesday, October 11th. Royal Bank of Canada cut their price target on shares of CSX from $35.00 to $34.00 and set a “sector perform” rating for the company in a report on Friday, October 20th. Benchmark reiterated a “buy” rating and issued a $37.00 price target on shares of CSX in a report on Friday, October 20th. Bank of America increased their price target on shares of CSX from $36.00 to $38.00 in a report on Friday, September 29th. Finally, Susquehanna cut their price target on shares of CSX from $36.00 to $33.00 and set a “neutral” rating for the company in a report on Tuesday, October 3rd. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $36.00.
CSX Trading Up 0.9 %
Shares of CSX traded up $0.29 during mid-day trading on Friday, hitting $31.62. The company had a trading volume of 13,336,919 shares, compared to its average volume of 13,129,098. The business’s 50-day simple moving average is $30.64 and its 200-day simple moving average is $31.58. The company has a quick ratio of 1.00, a current ratio of 1.14 and a debt-to-equity ratio of 1.50. CSX Co. has a 1-year low of $27.60 and a 1-year high of $34.38. The stock has a market cap of $62.49 billion, a PE ratio of 16.82, a P/E/G ratio of 2.53 and a beta of 1.20.
CSX (NASDAQ:CSX – Get Free Report) last released its earnings results on Thursday, October 19th. The transportation company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. CSX had a net margin of 26.16% and a return on equity of 31.28%. The business had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same period last year, the company earned $0.52 earnings per share. The company’s quarterly revenue was down 8.3% on a year-over-year basis. Sell-side analysts forecast that CSX Co. will post 1.83 earnings per share for the current year.
CSX Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.11 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.44 dividend on an annualized basis and a yield of 1.39%. CSX’s dividend payout ratio (DPR) is 23.40%.
CSX Company 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.
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