Millennium Management LLC Has $309.16 Million Stake in CSX Co. (CSX)
Millennium Management LLC increased its holdings in CSX Co. (NASDAQ:CSX) by 13.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 4,847,225 shares of the transportation company’s stock after buying an additional 569,310 shares during the period. CSX makes up 0.4% of Millennium Management LLC’s holdings, making the stock its 10th largest holding. Millennium Management LLC’s holdings in CSX were worth $309,156,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Archford Capital Strategies LLC acquired a new position in CSX during the first quarter valued at approximately $109,000. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new position in CSX during the first quarter valued at approximately $123,000. IMS Capital Management acquired a new position in CSX during the second quarter valued at approximately $124,000. Kaizen Advisory LLC raised its position in CSX by 150.5% during the second quarter. Kaizen Advisory LLC now owns 2,164 shares of the transportation company’s stock valued at $138,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Sun Life Financial INC raised its position in CSX by 950.0% during the second quarter. Sun Life Financial INC now owns 2,373 shares of the transportation company’s stock valued at $151,000 after purchasing an additional 2,147 shares in the last quarter. Institutional investors own 74.56% of the company’s stock.
Shares of CSX stock opened at $73.18 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.48 and a debt-to-equity ratio of 0.98. CSX Co. has a twelve month low of $48.26 and a twelve month high of $76.24. The firm has a market capitalization of $63.67 billion, a P/E ratio of 31.82, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be paid a $0.22 dividend. The ex-dividend date is Thursday, August 30th. This represents a $0.88 annualized dividend and a dividend yield of 1.20%. CSX’s dividend payout ratio is 38.26%.
CSX has been the topic of a number of research reports. BMO Capital Markets cut shares of CSX from an “outperform” rating to a “market perform” rating and set a $65.00 target price on the stock. in a research note on Wednesday, September 5th. They noted that the move was a valuation call. BidaskClub cut shares of CSX from a “buy” rating to a “hold” rating in a research note on Friday, August 31st. Scotiabank set a $72.00 target price on shares of CSX and gave the stock a “hold” rating in a research note on Wednesday, July 18th. TD Securities boosted their target price on shares of CSX from $68.00 to $71.00 and gave the stock a “$69.00” rating in a research note on Wednesday, July 18th. Finally, Raymond James boosted their target price on shares of CSX from $70.00 to $75.00 and gave the stock a “$69.00” rating in a research note on Wednesday, July 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. CSX presently has an average rating of “Buy” and an average price target of $69.45.
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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