Sage Capital Advisors llc Boosts Stock Holdings in CSX Co. (NASDAQ:CSX)

Sage Capital Advisors llc lifted its position in shares of CSX Co. (NASDAQ:CSX) by 0.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 114,134 shares of the transportation company’s stock after acquiring an additional 492 shares during the quarter. Sage Capital Advisors llc’s holdings in CSX were worth $3,941,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in CSX by 18.1% during 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 in the last quarter. Interval Partners LP grew its position in CSX by 849.0% in the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after acquiring an additional 4,579,344 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in CSX during the second quarter worth about $116,430,000. M&G Plc purchased a new position in shares of CSX during the 1st quarter valued at about $126,089,000. Finally, Wulff Hansen & CO. lifted its position in CSX by 3,243.0% in the 2nd quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock worth $73,331,000 after buying an additional 2,126,668 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on CSX shares. Barclays decreased their price target on shares of CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Monday, July 8th. Evercore ISI upgraded CSX to a “strong-buy” rating in a report on Tuesday, August 6th. Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $40.00 target price on shares of CSX in a research note on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and an average target price of $39.00.

CSX Price Performance

CSX opened at $33.87 on Wednesday. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The stock has a 50-day moving average price of $33.96 and a 200-day moving average price of $34.07. The firm has a market cap of $66.21 billion, a PE ratio of 18.61, a P/E/G ratio of 1.91 and a beta of 1.19. 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 (NASDAQ:CSX) last issued its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The business’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 earnings per share. Sell-side analysts predict that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. CSX’s payout ratio 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.