Sage Mountain Advisors LLC Grows Stock Position in CSX Co. (NASDAQ:CSX)

Sage Mountain Advisors LLC increased its holdings in shares of CSX Co. (NASDAQ:CSX) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,081 shares of the transportation company’s stock after buying an additional 490 shares during the quarter. Sage Mountain Advisors LLC’s holdings in CSX were worth $280,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its stake in CSX by 416.8% during the third quarter. Assenagon Asset Management S.A. now owns 5,070,296 shares of the transportation company’s stock worth $155,912,000 after acquiring an additional 4,089,150 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of CSX by 10.4% in the third quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock valued at $897,624,000 after buying an additional 2,748,738 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of CSX by 68.1% in the third quarter. PNC Financial Services Group Inc. now owns 5,234,797 shares of the transportation company’s stock valued at $160,970,000 after buying an additional 2,119,965 shares in the last quarter. Barclays PLC grew its stake in shares of CSX by 29.0% in the third quarter. Barclays PLC now owns 7,160,597 shares of the transportation company’s stock valued at $220,189,000 after buying an additional 1,609,942 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of CSX by 43.8% in the third quarter. Adage Capital Partners GP L.L.C. now owns 4,752,117 shares of the transportation company’s stock valued at $146,128,000 after buying an additional 1,446,685 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CSX shares. StockNews.com lowered CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of CSX in a research note on Thursday, April 18th. Stifel Nicolaus increased their target price on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. BMO Capital Markets increased their price target on CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Royal Bank of Canada reduced their price target on CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

CSX Trading Up 0.1 %

Shares of NASDAQ CSX opened at $34.66 on Tuesday. The company has a market cap of $67.76 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 2.05 and a beta of 1.18. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. The stock’s 50 day simple moving average is $36.83 and its 200 day simple moving average is $34.43.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. The business’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the business posted $0.48 EPS. Equities research analysts expect that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.12 dividend. This is an increase from CSX’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 28th. This represents a $0.48 annualized dividend and a dividend yield of 1.38%. CSX’s dividend payout ratio (DPR) is 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.