Truvestments Capital LLC Purchases New Position in CSX Co. (NASDAQ:CSX)

Truvestments Capital LLC acquired a new position in shares of CSX Co. (NASDAQ:CSX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,329 shares of the transportation company’s stock, valued at approximately $149,000.

Other large investors have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd grew its holdings in CSX by 51.0% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 89,305 shares of the transportation company’s stock worth $3,083,000 after acquiring an additional 30,150 shares during the last quarter. Douglass Winthrop Advisors LLC grew its stake in shares of CSX by 72.8% during the third quarter. Douglass Winthrop Advisors LLC now owns 34,176 shares of the transportation company’s stock valued at $1,180,000 after purchasing an additional 14,400 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of CSX by 3.6% in the third quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock valued at $851,404,000 after purchasing an additional 857,302 shares in the last quarter. Daiwa Securities Group Inc. raised its position in CSX by 15.2% in the 3rd quarter. Daiwa Securities Group Inc. now owns 433,081 shares of the transportation company’s stock worth $14,955,000 after purchasing an additional 57,134 shares during the last quarter. Finally, Summit Trail Advisors LLC lifted its holdings in CSX by 4.5% during the 3rd quarter. Summit Trail Advisors LLC now owns 91,293 shares of the transportation company’s stock worth $3,152,000 after buying an additional 3,961 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Stock Up 0.2 %

NASDAQ:CSX opened at $36.69 on Wednesday. The stock has a 50-day simple moving average of $34.59 and a 200 day simple moving average of $33.97. CSX Co. has a 52-week low of $31.65 and a 52-week high of $40.12. The company has a market cap of $70.75 billion, a PE ratio of 19.73, a PEG ratio of 2.27 and a beta of 1.19. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39.

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

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.31%. CSX’s payout ratio is currently 25.81%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Benchmark reiterated a “buy” rating and set a $40.00 target price on shares of CSX in a research report on Wednesday, August 7th. Citigroup increased their target price on CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. TD Cowen reduced their target price on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Loop Capital cut their price target on shares of CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Finally, Susquehanna reduced their price objective on shares of CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research note on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.78.

CSX 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.