CSX Co. (NASDAQ:CSX) Stock Holdings Lifted by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its position in CSX Co. (NASDAQ:CSX) by 12.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 894,100 shares of the transportation company’s stock after acquiring an additional 99,600 shares during the period. Renaissance Technologies LLC’s holdings in CSX were worth $29,908,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CSX. Western Wealth Management LLC grew its position in CSX by 0.8% during the second quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock valued at $1,208,000 after purchasing an additional 295 shares in the last quarter. TriaGen Wealth Management LLC grew its position in CSX by 2.7% during the second quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock valued at $385,000 after purchasing an additional 300 shares in the last quarter. Miracle Mile Advisors LLC grew its position in CSX by 0.3% during the first quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock valued at $3,839,000 after purchasing an additional 303 shares in the last quarter. Team Hewins LLC grew its position in CSX by 1.7% during the first quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock valued at $696,000 after purchasing an additional 306 shares in the last quarter. Finally, Zions Bancorporation N.A. grew its position in CSX by 4.8% during the second quarter. Zions Bancorporation N.A. now owns 6,985 shares of the transportation company’s stock valued at $234,000 after purchasing an additional 322 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CSX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of CSX in a research report on Wednesday, August 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $36.00 target price on shares of CSX in a research report on Tuesday, August 6th. Stephens reissued an “overweight” rating and issued a $42.00 target price on shares of CSX in a research report on Tuesday, August 6th. Finally, Sanford C. Bernstein boosted their target price on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.80.

CSX Price Performance

Shares of CSX stock opened at $34.80 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The firm has a fifty day moving average price of $34.00 and a two-hundred day moving average price of $34.42. The company has a market cap of $68.03 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. CSX had a net margin of 24.52% and a return on equity of 29.11%. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the prior year, the firm earned $0.49 EPS. The business’s revenue was up .0% on a year-over-year basis. Analysts expect that CSX Co. will post 1.93 EPS for the current year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, August 30th. CSX’s payout ratio is 26.37%.

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.