Summit Trail Advisors LLC Raises Position in CSX Co. (NASDAQ:CSX)

Summit Trail Advisors LLC lifted its stake in CSX Co. (NASDAQ:CSX) by 4.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,293 shares of the transportation company’s stock after buying an additional 3,961 shares during the period. Summit Trail Advisors LLC’s holdings in CSX were worth $3,152,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Borer Denton & Associates Inc. boosted its position in shares of CSX by 46.3% in the third quarter. Borer Denton & Associates Inc. now owns 12,349 shares of the transportation company’s stock worth $426,000 after buying an additional 3,910 shares during the period. Larson Financial Group LLC grew its stake in CSX by 20.2% during the 3rd quarter. Larson Financial Group LLC now owns 5,957 shares of the transportation company’s stock valued at $206,000 after purchasing an additional 1,000 shares in the last quarter. StoneX Group Inc. grew its stake in CSX by 4.0% during the 3rd quarter. StoneX Group Inc. now owns 39,651 shares of the transportation company’s stock valued at $1,369,000 after purchasing an additional 1,519 shares in the last quarter. Cerity Partners LLC grew its stake in CSX by 21.3% during the 3rd quarter. Cerity Partners LLC now owns 289,861 shares of the transportation company’s stock valued at $10,009,000 after purchasing an additional 50,913 shares in the last quarter. Finally, Great Valley Advisor Group Inc. grew its stake in CSX by 14.4% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 25,899 shares of the transportation company’s stock valued at $894,000 after purchasing an additional 3,252 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Trading Up 1.2 %

Shares of NASDAQ CSX opened at $35.78 on Friday. The company has a market cap of $69.00 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 2.24 and a beta of 1.19. CSX Co. has a 12-month low of $31.65 and a 12-month high of $40.12. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock’s 50 day simple moving average is $34.48 and its 200 day simple moving average is $33.94.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the business posted $0.42 EPS. Equities research analysts expect that CSX Co. will post 1.84 EPS for the current year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s payout ratio is currently 25.81%.

Analyst Ratings Changes

CSX has been the subject of a number of recent analyst reports. Loop Capital lowered their price objective on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Wells Fargo & Company lowered their price objective on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. TD Cowen lowered 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. Barclays raised their price objective on CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Stephens lowered their price objective on CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.78.

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.