Creative Planning Acquires 13,613 Shares of CSX Co. (NASDAQ:CSX)

Creative Planning boosted its holdings in shares of CSX Co. (NASDAQ:CSX) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 634,696 shares of the transportation company’s stock after acquiring an additional 13,613 shares during the period. Creative Planning’s holdings in CSX were worth $21,916,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Interval Partners LP lifted its holdings in shares of CSX by 849.0% in the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock valued at $171,222,000 after purchasing an additional 4,579,344 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of CSX in the second quarter valued at about $116,430,000. M&G Plc bought a new stake in shares of CSX in the first quarter valued at about $126,089,000. Wulff Hansen & CO. lifted its holdings in shares of CSX by 3,243.0% in the second quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after purchasing an additional 2,126,668 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of CSX by 38.7% in the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock valued at $225,917,000 after purchasing an additional 1,884,998 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on CSX shares. BMO Capital Markets cut their price target on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday. Citigroup initiated coverage on CSX in a report on Wednesday, October 9th. They issued a “buy” rating and a $42.00 price target on the stock. Loop Capital dropped their target price on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Monday, July 8th. Finally, Royal Bank of Canada dropped their target price on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.61.

CSX Price Performance

CSX stock opened at $34.12 on Monday. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12. The stock’s 50 day moving average is $34.02 and its 200-day moving average is $33.93. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $66.70 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 1.90 and a beta of 1.19.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a net margin of 24.52% and a return on equity of 29.11%. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period in the previous year, the company posted $0.42 EPS. CSX’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities research analysts expect that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio is currently 26.37%.

CSX Company 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.