CSX Co. (NASDAQ:CSX) Shares Purchased by Fortitude Family Office LLC

Fortitude Family Office LLC boosted its stake in shares of CSX Co. (NASDAQ:CSX) by 43.4% in the third quarter, HoldingsChannel.com reports. The fund owned 1,110 shares of the transportation company’s stock after purchasing an additional 336 shares during the period. Fortitude Family Office LLC’s holdings in CSX were worth $38,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its stake in CSX by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock worth $2,418,883,000 after purchasing an additional 443,755 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of CSX by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock valued at $573,128,000 after acquiring an additional 1,060,204 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of CSX by 9.3% in the second quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock valued at $415,466,000 after purchasing an additional 1,060,617 shares during the period. Bank of Montreal Can increased its position in CSX by 38.7% during the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock worth $225,917,000 after purchasing an additional 1,884,998 shares during the last quarter. Finally, Interval Partners LP raised its stake in CSX by 849.0% during the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after purchasing an additional 4,579,344 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Down 0.0 %

CSX stock opened at $33.25 on Wednesday. The firm has a market capitalization of $65.00 billion, a P/E ratio of 18.27, a P/E/G ratio of 1.90 and a beta of 1.19. The stock’s fifty day simple moving average is $34.02 and its 200-day simple moving average is $33.82. CSX Co. has a twelve month low of $29.26 and a twelve month high of $40.12. 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 (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 company had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. CSX’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 EPS. As a group, equities analysts expect that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.44%. CSX’s dividend payout ratio is currently 26.37%.

Analyst Upgrades and Downgrades

CSX has been the subject of a number of recent analyst reports. Evercore ISI cut their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Citigroup started coverage on CSX in a research report on Wednesday, October 9th. They issued a “buy” rating and a $42.00 target price on the stock. JPMorgan Chase & Co. increased their price target on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Wells Fargo & Company reduced their price objective on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Finally, Loop Capital lowered their target price on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.61.

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.