Ritholtz Wealth Management Boosts Position in CSX Co. (NASDAQ:CSX)

Ritholtz Wealth Management lifted its holdings in shares of CSX Co. (NASDAQ:CSX) by 1.0% in the third quarter, Holdings Channel.com reports. The fund owned 92,225 shares of the transportation company’s stock after purchasing an additional 953 shares during the period. Ritholtz Wealth Management’s holdings in CSX were worth $3,185,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CSX. Banque Cantonale Vaudoise boosted its position in shares of CSX by 149.1% during the second quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock valued at $575,000 after purchasing an additional 10,301 shares in the last quarter. Ascent Group LLC grew its position in shares of CSX by 559.7% in the 1st quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock worth $2,179,000 after buying an additional 49,869 shares during the period. PFG Advisors increased its stake in shares of CSX by 2.1% in the 1st quarter. PFG Advisors now owns 18,880 shares of the transportation company’s stock worth $700,000 after acquiring an additional 387 shares in the last quarter. Sei Investments Co. increased its stake in shares of CSX by 4.2% in the 1st quarter. Sei Investments Co. now owns 597,426 shares of the transportation company’s stock worth $22,146,000 after acquiring an additional 23,938 shares in the last quarter. Finally, William B. Walkup & Associates Inc. purchased a new position in CSX during the 2nd quarter valued at about $867,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of NASDAQ CSX opened at $34.96 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The firm has a market capitalization of $68.34 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. The firm has a 50 day moving average of $33.93 and a 200 day moving average of $34.03.

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

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio is currently 26.37%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CSX shares. Citigroup began coverage on shares of CSX in a research note on Wednesday. They set a “buy” rating and a $42.00 target price for the company. Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $36.00 target price on shares of CSX in a report on Tuesday, August 6th. Sanford C. Bernstein raised their price target on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Finally, Evercore ISI upgraded shares of CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.19.

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.