Woodmont Investment Counsel LLC lifted its holdings in shares of CSX Co. (NASDAQ:CSX) by 26.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 19,967 shares of the transportation company’s stock after buying an additional 4,219 shares during the period. Woodmont Investment Counsel LLC’s holdings in CSX were worth $1,479,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of CSX. Zions Bancorporation purchased a new position in shares of CSX in the 3rd quarter valued at approximately $105,000. Acropolis Investment Management LLC purchased a new stake in shares of CSX in the third quarter valued at approximately $107,000. LeJeune Puetz Investment Counsel LLC purchased a new stake in shares of CSX in the third quarter valued at approximately $112,000. Rational Advisors LLC boosted its stake in shares of CSX by 94.6% in the third quarter. Rational Advisors LLC now owns 1,707 shares of the transportation company’s stock valued at $126,000 after buying an additional 830 shares in the last quarter. Finally, Strategic Wealth Partners Ltd. purchased a new stake in shares of CSX in the second quarter valued at approximately $128,000. 75.16% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently weighed in on CSX. Deutsche Bank lifted their price target on CSX from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Monday. BidaskClub upgraded CSX from a “hold” rating to a “buy” rating in a research note on Friday, November 2nd. Morgan Stanley set a $55.00 price target on CSX and gave the company a “sell” rating in a research note on Monday, October 22nd. Stephens restated a “buy” rating and issued a $86.00 price target on shares of CSX in a research note on Monday, October 22nd. Finally, Argus lifted their price target on CSX to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. CSX has a consensus rating of “Buy” and an average price target of $77.90.
CSX (NASDAQ:CSX) last issued its quarterly earnings data on Tuesday, October 16th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.11. The firm had revenue of $3.13 billion during 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%. CSX’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 earnings per share. As a group, equities research analysts predict that CSX Co. will post 3.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.88 annualized dividend and a yield of 1.22%. CSX’s dividend payout ratio is presently 38.26%.
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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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