Xponance Inc. Raises Stake in CSX Co. (NASDAQ:CSX)

Xponance Inc. increased its stake in shares of CSX Co. (NASDAQ:CSX) by 2.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 274,065 shares of the transportation company’s stock after purchasing an additional 5,920 shares during the period. Xponance Inc.’s holdings in CSX were worth $9,502,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CSX. Moneta Group Investment Advisors LLC increased its position in shares of CSX by 101,926.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 23,323,241 shares of the transportation company’s stock valued at $722,554,000 after purchasing an additional 23,300,381 shares during the last quarter. Norges Bank bought a new position in CSX during the 4th quarter worth approximately $621,349,000. First Trust Advisors LP grew its position in CSX by 558.0% during the 1st quarter. First Trust Advisors LP now owns 6,800,925 shares of the transportation company’s stock worth $203,620,000 after acquiring an additional 5,767,302 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in CSX by 395.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,208,520 shares of the transportation company’s stock worth $195,059,000 after acquiring an additional 4,158,204 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in CSX by 416.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 5,070,296 shares of the transportation company’s stock worth $155,912,000 after acquiring an additional 4,089,150 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

CSX Trading Up 0.1 %

NASDAQ:CSX traded up $0.05 during midday trading on Friday, hitting $34.44. The stock had a trading volume of 1,187,963 shares, compared to its average volume of 11,961,761. CSX Co. has a one year low of $29.03 and a one year high of $40.12. The company has a market capitalization of $67.42 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 1.97 and a beta of 1.18. The stock has a 50-day moving average of $36.93 and a 200 day moving average of $34.32. The company has a quick ratio of 0.91, a current ratio of 1.05 and a debt-to-equity ratio of 1.48.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. CSX had a return on equity of 29.88% and a net margin of 24.75%. CSX’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.48 earnings per share. As a group, sell-side analysts forecast that CSX Co. will post 1.97 EPS for the current year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.48 dividend on an annualized basis and a yield of 1.39%. This is a positive change from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio is currently 26.37%.

Analyst Ratings Changes

Several research firms recently issued reports on CSX. JPMorgan Chase & Co. reduced their price target on CSX from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, December 21st. Bank of America reduced their price target on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday. Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of CSX in a report on Thursday. BMO Capital Markets increased their price objective on CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, TD Cowen increased their price objective on CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.72.

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.