Mill Creek Capital Advisors LLC Trims Holdings in CSX Co. (NASDAQ:CSX)

by · The Markets Daily

Mill Creek Capital Advisors LLC decreased its holdings in CSX Co. (NASDAQ:CSX – Free Report) by 48.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,839 shares of the transportation company’s stock after selling 9,271 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in CSX were worth $340,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CSX. Acadian Asset Management LLC raised its position in CSX by 12.0% in the 1st quarter. Acadian Asset Management LLC now owns 42,999 shares of the transportation company’s stock valued at $1,592,000 after purchasing an additional 4,606 shares during the last quarter. Ontario Teachers Pension Plan Board raised its position in CSX by 35.8% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 30,158 shares of the transportation company’s stock valued at $1,118,000 after purchasing an additional 7,951 shares during the last quarter. Trustmark National Bank Trust Department raised its position in CSX by 3.4% during the 1st quarter. Trustmark National Bank Trust Department now owns 13,042 shares of the transportation company’s stock worth $483,000 after buying an additional 432 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in CSX by 5.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 380,117 shares of the transportation company’s stock worth $14,091,000 after buying an additional 20,087 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in CSX by 1.8% during the 1st quarter. Clearbridge Investments LLC now owns 66,026 shares of the transportation company’s stock worth $2,448,000 after buying an additional 1,170 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

CSX has been the subject of a number of analyst reports. BMO Capital Markets cut their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Citigroup upped their price objective on shares of CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. TD Cowen cut their price objective on shares of CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Benchmark reissued a “buy” rating and issued a $40.00 price objective on shares of CSX in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus decreased their price target on shares of CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Seven 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, the company currently has an average rating of “Moderate Buy” and an average target price of $38.78.

Get Our Latest Stock Analysis on CSX

CSX Trading Down 1.4 %

NASDAQ CSX opened at $35.13 on Monday. CSX Co. has a one year low of $30.86 and a one year high of $40.12. The company’s 50 day moving average price is $34.32 and its 200 day moving average price is $33.90. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The firm has a market capitalization of $67.75 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 2.23 and a beta of 1.19.

CSX (NASDAQ:CSX – Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (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 analysts’ expectations of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 EPS. On average, sell-side analysts predict that CSX Co. will post 1.84 EPS for the current year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.37%. CSX’s dividend payout ratio is currently 25.81%.

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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