Miracle Mile Advisors LLC Boosts Stake in CSX Co. (NASDAQ:CSX)

Miracle Mile Advisors LLC grew its stake in CSX Co. (NASDAQ:CSX) by 0.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,563 shares of the transportation company’s stock after buying an additional 303 shares during the period. Miracle Mile Advisors LLC’s holdings in CSX were worth $3,839,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of CSX by 18.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock worth $2,246,893,000 after buying an additional 9,914,656 shares during the last quarter. Capital International Investors raised its holdings in shares of CSX by 14.3% during the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after purchasing an additional 5,041,679 shares during the last quarter. Morgan Stanley raised its holdings in shares of CSX by 3.1% during the third quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock worth $748,471,000 after purchasing an additional 739,411 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of CSX by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 22,378,276 shares of the transportation company’s stock worth $775,855,000 after purchasing an additional 470,640 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of CSX during the fourth quarter worth $757,276,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

CSX has been the topic of several analyst reports. Royal Bank of Canada dropped their price target on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. UBS Group dropped their price target on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Susquehanna decreased their price target on shares of CSX from $44.00 to $40.00 and set a “positive” rating on the stock in a research note on Tuesday, June 25th. Stifel Nicolaus raised their price target on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Finally, Jefferies Financial Group decreased their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, April 18th. Six research 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.59.

CSX Price Performance

Shares of CSX stock opened at $33.59 on Tuesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. The firm’s 50-day moving average is $33.46 and its two-hundred day moving average is $35.14. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12. The company has a market capitalization of $65.67 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 1.73 and a beta of 1.20.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. CSX’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.48 earnings per share. Analysts predict that CSX Co. will post 1.96 earnings per share for the current year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Friday, May 31st. CSX’s dividend payout ratio (DPR) is 26.37%.

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.