Landscape Capital Management L.L.C. Acquires Shares of 21,822 CSX Co. (NASDAQ:CSX)

Landscape Capital Management L.L.C. bought a new position in shares of CSX Co. (NASDAQ:CSX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,822 shares of the transportation company’s stock, valued at approximately $754,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. increased its holdings in shares of CSX by 581.7% in the first quarter. Advisors Asset Management Inc. now owns 5,283 shares of the transportation company’s stock valued at $196,000 after purchasing an additional 4,508 shares in the last quarter. BOKF NA boosted its position in CSX by 7.2% in the 1st quarter. BOKF NA now owns 80,532 shares of the transportation company’s stock valued at $2,962,000 after buying an additional 5,419 shares during the last quarter. Ascent Group LLC increased its stake 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 valued at $2,179,000 after buying an additional 49,869 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in shares of CSX during the first quarter worth $1,950,000. Finally, Interval Partners LP acquired a new position in shares of CSX during the first quarter valued at $19,996,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Trading Up 1.2 %

NASDAQ:CSX opened at $35.78 on Friday. The company has a market cap of $69.00 billion, a P/E ratio of 19.24, a price-to-earnings-growth ratio of 2.24 and a beta of 1.19. CSX Co. has a twelve month low of $31.65 and a twelve month high of $40.12. The business has a 50 day moving average price of $34.48 and a two-hundred day moving average price of $33.94. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same period last year, the business posted $0.42 EPS. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, analysts expect that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Announces Dividend

The business 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 dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.34%. CSX’s payout ratio is presently 25.81%.

Wall Street Analyst Weigh In

Several analysts have weighed in on CSX shares. Susquehanna dropped their price objective on CSX from $42.00 to $40.00 and set a “positive” rating for the company in a report on Thursday, October 17th. Stifel Nicolaus dropped their price target on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. BMO Capital Markets reduced their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Wells Fargo & Company dropped their target price on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Finally, TD Cowen reduced their price target on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.78.

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.