Ballentine Partners LLC Buys 1,168 Shares of CSX Co. (NASDAQ:CSX)

Ballentine Partners LLC boosted its stake in CSX Co. (NASDAQ:CSX) by 2.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,112 shares of the transportation company’s stock after buying an additional 1,168 shares during the period. Ballentine Partners LLC’s holdings in CSX were worth $1,489,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Interval Partners LP increased its stake in shares of CSX by 849.0% in the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after acquiring an additional 4,579,344 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of CSX during the second quarter valued at approximately $116,430,000. M&G Plc purchased a new position in shares of CSX during the first quarter valued at approximately $126,089,000. Assenagon Asset Management S.A. lifted its holdings in shares of CSX by 318.5% during the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock valued at $112,946,000 after purchasing an additional 2,489,329 shares during the last quarter. Finally, Wulff Hansen & CO. grew its stake in shares of CSX by 3,243.0% in the 2nd quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock worth $73,331,000 after buying an additional 2,126,668 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Stock Performance

CSX opened at $33.27 on Friday. The company’s 50 day moving average is $34.03 and its 200 day moving average is $33.89. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The company has a market cap of $65.04 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.90 and a beta of 1.19. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a net margin of 24.52% and a return on equity of 29.11%. The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the previous year, the firm earned $0.42 EPS. The company’s revenue was up 1.3% on a year-over-year basis. On average, equities research analysts predict that CSX Co. will post 1.93 EPS for the current year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.44%. CSX’s payout ratio is currently 26.37%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CSX. Citigroup began coverage on CSX in a research note on Wednesday, October 9th. They set a “buy” rating and a $42.00 price objective for the company. Royal Bank of Canada lowered their price target on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Barclays reduced their price objective on shares of CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. Evercore ISI dropped their target price on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, Wells Fargo & Company reduced their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.61.

About CSX

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.