Altfest L J & Co. Inc. Grows Stock Position in CSX Co. (NASDAQ:CSX)

Altfest L J & Co. Inc. raised its holdings in CSX Co. (NASDAQ:CSXFree Report) by 13.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,005 shares of the transportation company’s stock after buying an additional 1,324 shares during the quarter. Altfest L J & Co. Inc.’s holdings in CSX were worth $382,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC grew its holdings in CSX by 101,926.4% during the fourth 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 CSX during the fourth quarter worth about $621,349,000. First Trust Advisors LP grew its holdings in CSX by 558.0% during the first 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. Arrowstreet Capital Limited Partnership grew its holdings in CSX by 395.9% during the first 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. Finally, Assenagon Asset Management S.A. grew its holdings in CSX by 416.8% during the third quarter. Assenagon Asset Management S.A. now owns 5,070,296 shares of the transportation company’s stock worth $155,912,000 after acquiring an additional 4,089,150 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Performance

Shares of CSX stock opened at $37.07 on Friday. CSX Co. has a one year low of $29.03 and a one year high of $40.12. The company has a market cap of $72.57 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 2.09 and a beta of 1.18. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.05. The business’s 50 day moving average price is $36.89 and its 200 day moving average price is $33.79.

CSX (NASDAQ:CSXGet Free Report) last posted its earnings results on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.63 billion. CSX had a return on equity of 30.52% and a net margin of 25.35%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.49 earnings per share. On average, research analysts predict that CSX Co. will post 1.96 EPS for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.12 per share. This is a boost from CSX’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.48 annualized dividend and a yield of 1.29%. CSX’s dividend payout ratio (DPR) is 26.09%.

Analysts Set New Price Targets

Several analysts recently commented on the company. StockNews.com lowered CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. BMO Capital Markets raised their price objective on CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Susquehanna raised their price objective on CSX from $42.00 to $44.00 and gave the company a “positive” rating in a report on Thursday. Stifel Nicolaus dropped their price objective on CSX from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Finally, TD Cowen raised their price objective on CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $36.88.

Check Out Our Latest Stock Report on CSX

CSX Company Profile

(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.

See Also

Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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