Quantinno Capital Management LP Raises Stake in CSX Co. (NASDAQ:CSX)

Quantinno Capital Management LP lifted its position in shares of CSX Co. (NASDAQ:CSX) by 65.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 146,328 shares of the transportation company’s stock after buying an additional 57,978 shares during the period. Quantinno Capital Management LP’s holdings in CSX were worth $5,053,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CSX. Itau Unibanco Holding S.A. purchased a new position in shares of CSX during the 2nd quarter worth $26,000. Valley Wealth Managers Inc. increased its stake in CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 480 shares during the last quarter. MFA Wealth Advisors LLC purchased a new position in CSX during the second quarter worth about $27,000. Morton Brown Family Wealth LLC acquired a new stake in CSX in the 3rd quarter worth about $31,000. Finally, Fairscale Capital LLC purchased a new stake in CSX in the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Down 0.5 %

Shares of NASDAQ:CSX opened at $34.45 on Friday. The company has a 50 day moving average of $34.84 and a two-hundred day moving average of $34.09. CSX Co. has a 52-week low of $31.74 and a 52-week high of $40.12. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $66.43 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 2.24 and a beta of 1.20.

CSX (NASDAQ:CSX) last released 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 firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $0.42 EPS. As a group, analysts forecast that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio (DPR) is 25.81%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Stephens cut their price objective on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Evercore ISI cut their price target 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. TD Cowen lowered their price objective on shares of CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Susquehanna cut their target price on CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research report on Thursday, October 17th. Finally, Wells Fargo & Company lowered their price target on 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 equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.