GAMMA Investing LLC Has $1.05 Million Position in CSX Co. (NASDAQ:CSX)

GAMMA Investing LLC lifted its position in CSX Co. (NASDAQ:CSX) by 63.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,306 shares of the transportation company’s stock after acquiring an additional 11,730 shares during the period. GAMMA Investing LLC’s holdings in CSX were worth $1,046,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CSX. Envestnet Asset Management Inc. grew its holdings in shares of CSX by 1.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,503,238 shares of the transportation company’s stock valued at $86,787,000 after buying an additional 42,941 shares during the period. Schroder Investment Management Group increased its holdings in shares of CSX by 18.9% in the fourth quarter. Schroder Investment Management Group now owns 803,982 shares of the transportation company’s stock worth $27,874,000 after acquiring an additional 128,032 shares in the last quarter. Evercore Wealth Management LLC raised its position in shares of CSX by 8.2% during the fourth quarter. Evercore Wealth Management LLC now owns 15,662 shares of the transportation company’s stock worth $543,000 after purchasing an additional 1,191 shares during the period. Elo Mutual Pension Insurance Co lifted its holdings in shares of CSX by 2.2% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 175,165 shares of the transportation company’s stock valued at $6,073,000 after purchasing an additional 3,719 shares in the last quarter. Finally, State of Tennessee Treasury Department grew its position in shares of CSX by 14.0% in the 4th quarter. State of Tennessee Treasury Department now owns 889,115 shares of the transportation company’s stock valued at $30,826,000 after purchasing an additional 108,882 shares during the period. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of CSX stock opened at $33.65 on Tuesday. The stock has a market cap of $65.78 billion, a P/E ratio of 18.49, a P/E/G ratio of 1.91 and a beta of 1.19. The company has a fifty day moving average price of $33.97 and a two-hundred day moving average price of $34.10. CSX Co. has a one year low of $29.03 and a one year high of $40.12. 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 posted its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. CSX’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the company posted $0.49 earnings per share. As a group, equities analysts predict that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Benchmark reaffirmed a “buy” rating and issued a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. Evercore ISI raised shares of CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. increased their target price on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Susquehanna boosted their price target on CSX from $41.00 to $42.00 and gave the company a “positive” rating in a report on Wednesday, October 2nd. Finally, Barclays decreased their price objective on CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.00.

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.