7,867 Shares in CSX Co. (NASDAQ:CSX) Acquired by Millburn Ridgefield Corp

Millburn Ridgefield Corp bought a new position in shares of CSX Co. (NASDAQ:CSX) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 7,867 shares of the transportation company’s stock, valued at approximately $272,000.

Other hedge funds also recently added to or reduced their stakes in the company. IHT Wealth Management LLC lifted its stake in shares of CSX by 23.8% during the third quarter. IHT Wealth Management LLC now owns 62,300 shares of the transportation company’s stock worth $2,152,000 after buying an additional 11,986 shares during the period. Investment Management Corp of Ontario lifted its position in CSX by 20.3% during the 3rd quarter. Investment Management Corp of Ontario now owns 64,909 shares of the transportation company’s stock worth $2,241,000 after acquiring an additional 10,942 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in CSX during the 3rd quarter valued at about $211,000. HighTower Advisors LLC increased its holdings in shares of CSX by 1.5% in the third quarter. HighTower Advisors LLC now owns 819,304 shares of the transportation company’s stock valued at $28,274,000 after purchasing an additional 11,890 shares during the period. Finally, Hilltop Holdings Inc. purchased a new position in shares of CSX in the third quarter worth about $323,000. 73.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CSX shares. Evercore ISI dropped their target price on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. BMO Capital Markets reduced their target price on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Citigroup upped their price target on shares of CSX from $42.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. TD Cowen reduced their price objective on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Finally, Loop Capital lowered their target price on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.78.

CSX Trading Down 0.9 %

Shares of CSX stock opened at $36.00 on Wednesday. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a twelve month low of $31.74 and a twelve month high of $40.12. The firm has a market capitalization of $69.42 billion, a PE ratio of 19.35, a P/E/G ratio of 2.31 and a beta of 1.20. The firm’s 50-day moving average price is $34.79 and its 200 day moving average price is $34.06.

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 the consensus estimate of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter last year, the business earned $0.42 EPS. The business’s revenue was up 1.3% compared to the same quarter last year. On average, sell-side analysts predict 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. Investors of record on Friday, November 29th will be given a dividend of $0.12 per share. 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 1.33%. CSX’s payout ratio is presently 25.81%.

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.