Cetera Advisor Networks LLC Boosts Stock Position in CSX Co. (NASDAQ:CSX)

Cetera Advisor Networks LLC boosted its holdings in CSX Co. (NASDAQ:CSXGet Rating) by 17.1% during the 2nd quarter, Holdings Channel reports. The firm owned 136,187 shares of the transportation company’s stock after acquiring an additional 19,868 shares during the period. Cetera Advisor Networks LLC’s holdings in CSX were worth $3,958,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. HB Wealth Management LLC lifted its position in shares of CSX by 2.0% during the 2nd quarter. HB Wealth Management LLC now owns 65,017 shares of the transportation company’s stock valued at $1,889,000 after buying an additional 1,285 shares during the last quarter. M Holdings Securities Inc. purchased a new position in shares of CSX during the 1st quarter valued at $771,000. Envestnet Asset Management Inc. lifted its position in shares of CSX by 8.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,018,634 shares of the transportation company’s stock valued at $38,148,000 after buying an additional 76,499 shares during the last quarter. KBC Group NV lifted its position in shares of CSX by 14.4% during the 1st quarter. KBC Group NV now owns 183,451 shares of the transportation company’s stock valued at $6,870,000 after buying an additional 23,127 shares during the last quarter. Finally, Pictet Asset Management SA lifted its position in shares of CSX by 67.5% during the 2nd quarter. Pictet Asset Management SA now owns 1,803,489 shares of the transportation company’s stock valued at $52,409,000 after buying an additional 726,721 shares during the last quarter. Hedge funds and other institutional investors own 73.60% of the company’s stock.

CSX Price Performance

Shares of CSX stock opened at $32.07 on Thursday. The company has a current ratio of 1.72, a quick ratio of 1.57 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $67.42 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 1.69 and a beta of 1.24. The business’s 50-day moving average price is $28.88 and its 200-day moving average price is $30.51. CSX Co. has a 12 month low of $25.80 and a 12 month high of $38.63.

CSX (NASDAQ:CSXGet Rating) last announced its quarterly earnings data on Thursday, October 20th. The transportation company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.75 billion. CSX had a return on equity of 30.32% and a net margin of 28.06%. The company’s revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.43 EPS. Sell-side analysts forecast that CSX Co. will post 1.91 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 1.25%. CSX’s dividend payout ratio (DPR) is presently 21.39%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CSX. StockNews.com cut CSX from a “buy” rating to a “hold” rating in a research report on Friday, November 18th. The Goldman Sachs Group decreased their price objective on CSX from $37.00 to $33.00 and set a “buy” rating on the stock in a research note on Monday, October 10th. Sanford C. Bernstein lowered CSX from an “outperform” rating to a “market perform” rating and set a $32.00 price objective on the stock. in a research note on Wednesday, September 14th. Barclays decreased their price objective on CSX from $40.00 to $35.00 and set an “overweight” rating on the stock in a research note on Friday, September 30th. Finally, Susquehanna lowered CSX from a “positive” rating to a “neutral” rating and decreased their price objective for the company from $35.00 to $29.00 in a research note on Wednesday, September 28th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $34.31.

CSX Company Profile

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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 transports chemicals, agricultural and food products, automotive, minerals, 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.

Further Reading

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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