Creative Planning Has $21.92 Million Position in CSX Co. (NASDAQ:CSX)

Creative Planning increased its stake in shares of CSX Co. (NASDAQ:CSX) by 2.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 634,696 shares of the transportation company’s stock after buying an additional 13,613 shares during the quarter. Creative Planning’s holdings in CSX were worth $21,916,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new stake in CSX during the second quarter worth $26,000. MFA Wealth Advisors LLC bought a new stake in CSX during the second quarter worth $27,000. Financial Synergies Wealth Advisors Inc. bought a new stake in CSX during the first quarter worth $29,000. Fairscale Capital LLC bought a new stake in CSX during the second quarter worth $32,000. Finally, Strategic Financial Concepts LLC bought a new stake in CSX during the second quarter worth $33,000. 73.57% of the stock is currently owned by institutional investors.

CSX Stock Performance

NASDAQ CSX opened at $34.12 on Monday. The company has a market capitalization of $66.70 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 1.90 and a beta of 1.19. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The stock has a fifty day simple moving average of $34.02 and a 200 day simple moving average of $33.93. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a net margin of 24.52% and a return on equity of 29.11%. The company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the previous year, the company earned $0.42 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. Sell-side analysts expect that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. CSX’s payout ratio is currently 26.37%.

Analyst Upgrades and Downgrades

CSX has been the subject of several recent analyst reports. BMO Capital Markets cut their target price on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday. Loop Capital cut their target price on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday. Evercore ISI dropped their price target on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday. Stephens dropped their price target on CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Royal Bank of Canada dropped their price target on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Thursday. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $38.61.

CSX Profile

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.