Jacobs Levy Equity Management Inc. Takes $211,000 Position in CSX Co. (NASDAQ:CSX)

Jacobs Levy Equity Management Inc. acquired a new stake in CSX Co. (NASDAQ:CSX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,119 shares of the transportation company’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dynamic Advisor Solutions LLC boosted its holdings in CSX by 1.1% during the second quarter. Dynamic Advisor Solutions LLC now owns 35,886 shares of the transportation company’s stock worth $1,200,000 after buying an additional 383 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in CSX by 0.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 865,100 shares of the transportation company’s stock worth $28,938,000 after buying an additional 7,966 shares in the last quarter. Great Valley Advisor Group Inc. boosted its holdings in CSX by 9.3% during the second quarter. Great Valley Advisor Group Inc. now owns 22,647 shares of the transportation company’s stock worth $757,000 after buying an additional 1,930 shares in the last quarter. ORG Partners LLC boosted its holdings in CSX by 287.4% during the second quarter. ORG Partners LLC now owns 3,487 shares of the transportation company’s stock worth $117,000 after buying an additional 2,587 shares in the last quarter. Finally, PGGM Investments boosted its holdings in CSX by 11.7% during the second quarter. PGGM Investments now owns 147,513 shares of the transportation company’s stock worth $4,934,000 after buying an additional 15,474 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CSX. Royal Bank of Canada decreased their price objective on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. Citigroup raised their price objective 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. Barclays raised their price objective on shares of CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Evercore ISI decreased their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, Stephens decreased their price objective on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.78.

CSX Stock Up 0.6 %

CSX stock opened at $34.17 on Wednesday. The company has a market capitalization of $65.89 billion, a P/E ratio of 18.37, a P/E/G ratio of 2.19 and a beta of 1.20. The firm’s fifty day simple moving average is $34.82 and its 200-day simple moving average is $34.09. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a 1-year low of $31.74 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last released its quarterly 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). The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The firm’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 business posted $0.42 EPS. Sell-side analysts forecast that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.40%. CSX’s dividend payout ratio (DPR) is presently 25.81%.

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.