NorthCrest Asset Manangement LLC Boosts Stake in CSX Co. (NASDAQ:CSX)

by · The Cerbat Gem

NorthCrest Asset Manangement LLC lifted its holdings in CSX Co. (NASDAQ:CSX – Free Report) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 541,771 shares of the transportation company’s stock after purchasing an additional 9,489 shares during the period. NorthCrest Asset Manangement LLC’s holdings in CSX were worth $18,707,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Western Wealth Management LLC increased its stake in shares of CSX by 0.8% during the second quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock worth $1,208,000 after purchasing an additional 295 shares in the last quarter. TriaGen Wealth Management LLC raised its stake in CSX by 2.7% in the 2nd quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock valued at $385,000 after purchasing an additional 300 shares during the last quarter. Miracle Mile Advisors LLC lifted its holdings in CSX by 0.3% in the 1st quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock valued at $3,839,000 after purchasing an additional 303 shares in the last quarter. Team Hewins LLC grew its holdings in shares of CSX by 1.7% during the first quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock worth $696,000 after buying an additional 306 shares in the last quarter. Finally, Lake Street Advisors Group LLC raised its position in shares of CSX by 1.8% in the third quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock valued at $595,000 after buying an additional 306 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX stock traded up $0.17 during trading on Friday, reaching $33.27. The company’s stock had a trading volume of 14,067,075 shares, compared to its average volume of 11,651,126. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The business has a 50 day moving average price of $34.03 and a 200-day moving average price of $33.89. The company has a market capitalization of $65.04 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19.

CSX (NASDAQ:CSX – Get Free Report) last issued its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. As a group, sell-side analysts anticipate that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s payout ratio is currently 26.37%.

Wall Street Analysts Forecast Growth

CSX has been the topic of a number of recent research reports. BMO Capital Markets lowered their price objective on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Wells Fargo & Company reduced their target price on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 17th. Royal Bank of Canada dropped their price target on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. Susquehanna lowered their price objective on CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research report on Thursday, October 17th. Finally, Benchmark reaffirmed a “buy” rating and issued a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, CSX has a consensus rating of “Moderate Buy” and a consensus target price of $38.61.

Read Our Latest Stock 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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