Profund Advisors LLC Increases Position in CSX Co. (NASDAQ:CSX)

Profund Advisors LLC raised its holdings in shares of CSX Co. (NASDAQ:CSX) by 9.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,674 shares of the transportation company’s stock after buying an additional 5,614 shares during the period. Profund Advisors LLC’s holdings in CSX were worth $4,825,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Evoke Wealth LLC purchased a new stake in shares of CSX in the third quarter valued at approximately $32,000. Princeton Global Asset Management LLC bought a new position in CSX in the third quarter worth approximately $35,000. PSI Advisors LLC bought a new position in CSX in the fourth quarter worth approximately $43,000. Manchester Financial Inc. bought a new position in CSX in the fourth quarter worth approximately $45,000. Finally, Asset Dedication LLC raised its stake in CSX by 22.3% in the fourth quarter. Asset Dedication LLC now owns 734 shares of the transportation company’s stock worth $52,000 after buying an additional 134 shares in the last quarter. Institutional investors and hedge funds own 73.94% of the company’s stock.

Shares of NASDAQ CSX traded up $2.04 during mid-day trading on Thursday, hitting $58.57. The stock had a trading volume of 6,261,502 shares, compared to its average volume of 5,636,903. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.40 and a current ratio of 1.52. The company has a 50 day moving average of $69.01 and a two-hundred day moving average of $71.04. CSX Co. has a twelve month low of $46.81 and a twelve month high of $80.73. The firm has a market cap of $45.32 billion, a PE ratio of 14.05, a PEG ratio of 1.61 and a beta of 1.17.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, January 16th. The transportation company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.97 by $0.02. CSX had a net margin of 27.91% and a return on equity of 27.49%. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the prior year, the company earned $1.01 earnings per share. The firm’s revenue was down 8.2% on a year-over-year basis. Equities research analysts predict that CSX Co. will post 4.07 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 28th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.78%. This is a positive change from CSX’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Thursday, February 27th. CSX’s dividend payout ratio is presently 24.94%.

A number of equities analysts recently commented on the stock. Royal Bank of Canada reissued a “neutral” rating on shares of CSX in a research note on Wednesday, March 18th. TD Securities boosted their price objective on shares of CSX from $76.00 to $78.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Citigroup downgraded CSX from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $80.00 to $75.00 in a research report on Tuesday, December 10th. Credit Suisse Group upped their price target on CSX from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, Susquehanna Bancshares raised CSX from a “neutral” rating to a “positive” rating and upped their price target for the stock from $74.00 to $87.00 in a research report on Tuesday, January 7th. Nineteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. CSX has an average rating of “Hold” and an average price target of $75.77.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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