GHP Investment Advisors Inc. increased its stake in shares of CSX Co. (NASDAQ:CSX) by 2.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 83,000 shares of the transportation company’s stock after buying an additional 1,838 shares during the quarter. CSX accounts for about 0.8% of GHP Investment Advisors Inc.’s investment portfolio, making the stock its 24th largest holding. GHP Investment Advisors Inc.’s holdings in CSX were worth $6,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently modified their holdings of the stock. Acropolis Investment Management LLC bought a new stake in CSX during the third quarter worth $107,000. IMS Capital Management bought a new stake in CSX during the second quarter worth $124,000. Strategic Wealth Partners Ltd. bought a new stake in CSX during the second quarter worth $128,000. Kaizen Advisory LLC lifted its stake in CSX by 150.5% during the second quarter. Kaizen Advisory LLC now owns 2,164 shares of the transportation company’s stock worth $138,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Sun Life Financial INC lifted its stake in CSX by 950.0% during the second quarter. Sun Life Financial INC now owns 2,373 shares of the transportation company’s stock worth $151,000 after purchasing an additional 2,147 shares during the last quarter. 74.62% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on the company. Stephens restated a “buy” rating and set a $85.00 target price on shares of CSX in a research note on Tuesday, October 9th. Morgan Stanley upped their target price on CSX from $52.00 to $55.00 and gave the stock a “sell” rating in a research note on Tuesday, October 9th. BidaskClub upgraded CSX from a “hold” rating to a “buy” rating in a research note on Saturday, October 6th. Bank of America increased their price target on CSX from $77.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, October 1st. Finally, Citigroup increased their price target on CSX from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, October 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $73.20.
CSX (NASDAQ:CSX) last announced its quarterly earnings results on Tuesday, October 16th. The transportation company reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.11. The company had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.05 billion. CSX had a return on equity of 19.31% and a net margin of 53.27%. CSX’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 EPS. As a group, analysts expect that CSX Co. will post 3.61 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, November 29th. CSX’s dividend payout ratio is currently 38.26%.
CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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