Patriot Financial Group Insurance Agency LLC raised its holdings in shares of CSX Co. (NASDAQ:CSX) by 77.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,912 shares of the transportation company’s stock after buying an additional 1,274 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in CSX were worth $216,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Palladium Partners LLC increased its position in shares of CSX by 5.3% during the third quarter. Palladium Partners LLC now owns 29,432 shares of the transportation company’s stock valued at $2,179,000 after purchasing an additional 1,483 shares during the period. GWM Advisors LLC increased its position in shares of CSX by 68.7% during the third quarter. GWM Advisors LLC now owns 5,446 shares of the transportation company’s stock valued at $403,000 after purchasing an additional 2,217 shares during the period. Columbus Circle Investors bought a new stake in shares of CSX during the third quarter valued at approximately $26,752,000. LeJeune Puetz Investment Counsel LLC bought a new stake in shares of CSX during the third quarter valued at approximately $112,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of CSX by 34.1% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 6,265 shares of the transportation company’s stock valued at $464,000 after purchasing an additional 1,594 shares during the period. Institutional investors own 75.95% of the company’s stock.
NASDAQ:CSX traded up $0.99 during trading hours on Thursday, reaching $70.21. The company had a trading volume of 3,601,361 shares, compared to its average volume of 5,967,291. CSX Co. has a one year low of $48.43 and a one year high of $76.24. The stock has a market capitalization of $58.45 billion, a price-to-earnings ratio of 30.53, a price-to-earnings-growth ratio of 1.36 and a beta of 1.27. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.43 and a quick ratio of 1.29.
CSX (NASDAQ:CSX) last announced its quarterly earnings results on Tuesday, October 16th. The transportation company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.11. The firm had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.05 billion. CSX had a return on equity of 21.38% and a net margin of 55.19%. The business’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 earnings per share. Research analysts expect that CSX Co. will post 3.81 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Thursday, November 29th. CSX’s dividend payout ratio is currently 38.26%.
A number of research firms have recently issued reports on CSX. Bank of America boosted their price objective on CSX from $77.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, October 1st. Citigroup boosted their price objective on CSX from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, October 1st. BMO Capital Markets cut CSX from an “outperform” rating to a “market perform” rating and set a $65.00 price objective on the stock. in a research report on Wednesday, September 5th. They noted that the move was a valuation call. Morgan Stanley boosted their price objective on CSX from $52.00 to $55.00 and gave the company a “sell” rating in a research report on Tuesday, October 9th. Finally, Stephens restated a “buy” rating and set a $85.00 price objective on shares of CSX in a research report on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. CSX has an average rating of “Buy” and an average target price of $77.60.
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CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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