Next Century Growth Investors LLC Has $4.54 Million Stake in CSX Co. (NASDAQ:CSX)

Next Century Growth Investors LLC boosted its position in CSX Co. (NASDAQ:CSX) by 350.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 141,498 shares of the transportation company’s stock after buying an additional 110,098 shares during the period. Next Century Growth Investors LLC’s holdings in CSX were worth $4,539,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CSX. Gemmer Asset Management LLC lifted its holdings in CSX by 220.1% in the second quarter. Gemmer Asset Management LLC now owns 858 shares of the transportation company’s stock valued at $28,000 after buying an additional 590 shares during the period. Bellevue Asset Management LLC increased its stake in CSX by 200.0% in the second quarter. Bellevue Asset Management LLC now owns 900 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 600 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in CSX in the second quarter valued at $31,000. Strategic Blueprint LLC bought a new stake in CSX in the second quarter valued at $32,000. Finally, SRS Capital Advisors Inc. bought a new stake in CSX in the second quarter valued at $33,000. Institutional investors and hedge funds own 71.79% of the company’s stock.

CSX stock traded up $0.45 during midday trading on Thursday, hitting $33.03. 84,770 shares of the stock were exchanged, compared to its average volume of 11,113,289. CSX Co. has a 52-week low of $25.13 and a 52-week high of $34.96. The stock has a market capitalization of $74.47 billion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 1.80 and a beta of 1.14. The business’s 50-day moving average price is $31.99 and its 200-day moving average price is $32.90. The company has a quick ratio of 2.20, a current ratio of 2.34 and a debt-to-equity ratio of 1.21.

CSX (NASDAQ:CSX) last released its earnings results on Tuesday, July 20th. The transportation company reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.02. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.94 billion. CSX had a net margin of 29.93% and a return on equity of 23.96%. The company’s quarterly revenue was up 32.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 earnings per share. On average, sell-side analysts predict that CSX Co. will post 1.51 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 15th. Shareholders of record on Tuesday, November 30th will be paid a $0.093 dividend. This represents a $0.37 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Monday, November 29th. CSX’s payout ratio is 30.33%.

Several equities research analysts have weighed in on the stock. Citigroup raised shares of CSX from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 29th. Stifel Nicolaus lifted their price target on shares of CSX from $33.00 to $35.00 and gave the company a “hold” rating in a research note on Thursday, July 22nd. Susquehanna boosted their target price on shares of CSX from $37.00 to $38.00 and gave the stock a “positive” rating in a research report on Thursday, July 22nd. Atlantic Securities initiated coverage on shares of CSX in a research report on Monday, July 12th. They set an “overweight” rating and a $40.00 target price for the company. Finally, TD Securities raised shares of CSX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $36.00 to $38.00 in a research report on Thursday, July 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $34.70.

In related news, EVP Nathan D. Goldman sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, July 26th. The shares were sold at an average price of $32.87, for a total transaction of $1,150,450.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John J. Zillmer sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 24th. The shares were sold at an average price of $33.54, for a total transaction of $503,100.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 291,487 shares of company stock worth $9,367,739. Corporate insiders own 0.60% of the company’s stock.

CSX Company Profile

CSX Corp. engages in the provision of rail-based freight transportation services. Its services include rail service, the transport of intermodal containers and trailers, rail-to-truck transfers and bulk commodity operations. The company was founded in 1827 and is headquartered in Jacksonville, FL.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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