Concurrent Investment Advisors LLC Boosts Holdings in CSX Co. (NASDAQ:CSX)

Concurrent Investment Advisors LLC lifted its position in shares of CSX Co. (NASDAQ:CSX) by 1.0% in the third quarter, Holdings Channel reports. The institutional investor owned 40,767 shares of the transportation company’s stock after acquiring an additional 408 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in CSX were worth $1,408,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CSX. Banque Cantonale Vaudoise increased its stake in CSX by 149.1% during the second quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock worth $575,000 after acquiring an additional 10,301 shares during the last quarter. Ascent Group LLC grew its holdings in shares of CSX by 559.7% during the 1st quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock worth $2,179,000 after purchasing an additional 49,869 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of CSX by 20.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock worth $16,139,000 after purchasing an additional 80,423 shares during the period. PFG Advisors increased its position in shares of CSX by 2.1% during the 1st quarter. PFG Advisors now owns 18,880 shares of the transportation company’s stock worth $700,000 after purchasing an additional 387 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in CSX by 4.2% in the 1st quarter. Sei Investments Co. now owns 597,426 shares of the transportation company’s stock valued at $22,146,000 after buying an additional 23,938 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Trading Up 1.2 %

Shares of NASDAQ:CSX opened at $36.00 on Friday. CSX Co. has a 52 week low of $30.13 and a 52 week high of $40.12. The company’s 50 day moving average is $34.15 and its two-hundred day moving average is $33.82. The company has a market cap of $69.42 billion, a PE ratio of 19.35, a P/E/G ratio of 2.12 and a beta of 1.19. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the company earned $0.42 EPS. Equities analysts predict that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio (DPR) is 25.81%.

Analyst Ratings Changes

A number of brokerages have weighed in on CSX. TD Cowen dropped their price target on shares of CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Stifel Nicolaus dropped their target price on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Benchmark restated a “buy” rating and set a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. Wells Fargo & Company dropped their price objective on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. increased their target price on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.61.

About CSX

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.