Murphy Capital Management Inc. decreased its stake in shares of CSX Co. (NASDAQ:CSX) by 3.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,098 shares of the transportation company’s stock after selling 1,685 shares during the quarter. Murphy Capital Management Inc.’s holdings in CSX were worth $3,539,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Nuveen Asset Management LLC grew its position in CSX by 1,402.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 9,509,960 shares of the transportation company’s stock valued at $735,786,000 after purchasing an additional 8,877,188 shares during the period. Renaissance Technologies LLC grew its position in CSX by 277.1% in the 2nd quarter. Renaissance Technologies LLC now owns 3,036,900 shares of the transportation company’s stock valued at $234,965,000 after purchasing an additional 2,231,500 shares during the period. BlackRock Inc. grew its position in CSX by 2.4% in the 2nd quarter. BlackRock Inc. now owns 48,210,842 shares of the transportation company’s stock valued at $3,730,073,000 after purchasing an additional 1,127,117 shares during the period. EdgePoint Investment Group Inc. grew its position in CSX by 6.8% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 10,698,067 shares of the transportation company’s stock valued at $827,709,000 after purchasing an additional 685,637 shares during the period. Finally, RE Advisers Corp acquired a new stake in CSX in the 2nd quarter valued at $43,954,000. 75.71% of the stock is owned by institutional investors.
CSX has been the subject of several research reports. Morgan Stanley reduced their price target on shares of CSX from $56.00 to $55.00 and set an “underweight” rating for the company in a research report on Monday. Zacks Investment Research downgraded shares of CSX from a “hold” rating to a “sell” rating and set a $83.00 price target for the company. in a research report on Monday, July 8th. UBS Group reduced their price target on shares of CSX from $81.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday, September 17th. Royal Bank of Canada cut their price objective on shares of CSX to $75.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 17th. Finally, Barclays reaffirmed a “buy” rating and set a $85.00 price objective on shares of CSX in a report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $77.82.
CSX traded up $2.24 during mid-day trading on Friday, reaching $69.18. 237,824 shares of the stock were exchanged, compared to its average volume of 5,064,349. The stock has a market capitalization of $52.56 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 1.23 and a beta of 1.24. CSX Co. has a 1 year low of $58.47 and a 1 year high of $80.73. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.44 and a current ratio of 1.55. The company has a 50 day moving average price of $67.92 and a two-hundred day moving average price of $73.21.
CSX (NASDAQ:CSX) last released its earnings results on Tuesday, July 16th. The transportation company reported $1.08 EPS for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.03). The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.14 billion. CSX had a return on equity of 26.96% and a net margin of 27.87%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 earnings per share. Sell-side analysts expect that CSX Co. will post 4.11 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Wednesday, November 27th. CSX’s payout ratio is 25.00%.
CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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