Ninepoint Partners LP Acquires 3,886 Shares of CSX Co. (NASDAQ:CSX)

Ninepoint Partners LP increased its holdings in shares of CSX Co. (NASDAQ:CSX) by 15.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 29,654 shares of the transportation company’s stock after acquiring an additional 3,886 shares during the period. Ninepoint Partners LP’s holdings in CSX were worth $992,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CSX. Price T Rowe Associates Inc. MD increased its holdings in CSX by 18.1% during the 4th 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 purchasing an additional 9,914,656 shares during the period. Capital International Investors increased its holdings in CSX by 14.3% during the 4th 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 period. Interval Partners LP increased its holdings in CSX by 849.0% during the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after purchasing an additional 4,579,344 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of CSX in the 2nd quarter valued at $116,430,000. Finally, M&G Plc bought a new position in shares of CSX in the 1st quarter worth $126,089,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Up 1.9 %

CSX stock opened at $34.53 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. The business’s 50-day simple moving average is $33.92 and its two-hundred day simple moving average is $34.25. The company has a market cap of $67.50 billion, a PE ratio of 18.97, a PEG ratio of 1.91 and a beta of 1.19. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12.

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

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.39%. CSX’s payout ratio is presently 26.37%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CSX. Sanford C. Bernstein boosted their price target on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Wells Fargo & Company began coverage on CSX in a research report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price target for the company. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Monday, July 8th. Evercore ISI raised CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. boosted their price target on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.93.

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.