B&L Asset Management LLC Acquires Shares of 7,650 CSX Co. (NASDAQ:CSX)

B&L Asset Management LLC bought a new position in shares of CSX Co. (NASDAQ:CSX) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 7,650 shares of the transportation company’s stock, valued at approximately $264,000.

Several other hedge funds have also modified their holdings of the company. Valley Wealth Managers Inc. boosted its position in CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after purchasing an additional 480 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in CSX in the 2nd quarter valued at $26,000. MFA Wealth Advisors LLC purchased a new stake in CSX in the 2nd quarter worth $27,000. Fairscale Capital LLC purchased a new stake in CSX in the 2nd quarter worth $32,000. Finally, Morton Brown Family Wealth LLC acquired a new position in CSX during the third quarter worth $31,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Down 0.1 %

CSX stock opened at $36.55 on Friday. CSX Co. has a one year low of $31.72 and a one year high of $40.12. The firm has a market cap of $70.48 billion, a PE ratio of 19.65, a PEG ratio of 2.32 and a beta of 1.19. The firm’s 50 day moving average price is $34.70 and its 200-day moving average price is $34.02. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. CSX’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. On average, equities research analysts anticipate that CSX Co. will post 1.84 EPS for the current year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio (DPR) is 25.81%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CSX. Citigroup boosted their target price on shares of CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Royal Bank of Canada cut their price objective on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. Evercore ISI decreased their target price on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Benchmark reaffirmed a “buy” rating and issued a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. Finally, Barclays increased 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. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and an average price target of $38.78.

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.