Highland Capital Management LLC Buys 1,141 Shares of CSX Co. (NASDAQ:CSX)

Highland Capital Management LLC lifted its position in CSX Co. (NASDAQ:CSX) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,224 shares of the transportation company’s stock after acquiring an additional 1,141 shares during the quarter. Highland Capital Management LLC’s holdings in CSX were worth $4,359,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brookstone Capital Management increased its position in shares of CSX by 15.6% during the 1st quarter. Brookstone Capital Management now owns 27,113 shares of the transportation company’s stock valued at $1,005,000 after purchasing an additional 3,662 shares during the last quarter. Wealthcare Advisory Partners LLC grew its position in CSX by 24.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 26,008 shares of the transportation company’s stock valued at $964,000 after buying an additional 5,155 shares during the period. Register Financial Advisors LLC purchased a new stake in CSX during the first quarter worth about $97,000. OneAscent Financial Services LLC raised its position in CSX by 22.0% in the first quarter. OneAscent Financial Services LLC now owns 14,633 shares of the transportation company’s stock worth $542,000 after acquiring an additional 2,638 shares during the period. Finally, New Mexico Educational Retirement Board boosted its stake in CSX by 21.9% in the first quarter. New Mexico Educational Retirement Board now owns 129,018 shares of the transportation company’s stock valued at $4,832,000 after acquiring an additional 23,200 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CSX. Benchmark restated a “buy” rating and set a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. Evercore ISI lowered their target price on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Barclays dropped their price target on CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Royal Bank of Canada decreased their price objective on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Finally, Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Monday, July 8th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $38.61.

CSX Stock Up 0.5 %

CSX opened at $33.27 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. CSX Co. has a one year low of $29.03 and a one year high of $40.12. The firm has a market capitalization of $65.04 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. The company has a fifty day moving average price of $34.03 and a 200-day moving average price of $33.89.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a return on equity of 29.11% and a net margin of 24.52%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the prior year, the company earned $0.42 earnings per share. CSX’s revenue was up 1.3% compared to the same quarter last year. Equities research analysts expect that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.44%. CSX’s payout ratio is presently 26.37%.

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.