Highland Capital Management LLC Has $4.36 Million Stock Holdings in CSX Co. (NASDAQ:CSX)

Highland Capital Management LLC boosted its position in CSX Co. (NASDAQ:CSX) by 0.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 126,224 shares of the transportation company’s stock after acquiring an additional 1,141 shares during the quarter. Highland Capital Management LLC’s holdings in CSX were worth $4,359,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CSX. Western Wealth Management LLC grew its holdings in shares of CSX by 0.8% during the 2nd quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock valued at $1,208,000 after purchasing an additional 295 shares during the last quarter. TriaGen Wealth Management LLC boosted its position in CSX by 2.7% in the second quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock valued at $385,000 after buying an additional 300 shares in the last quarter. Miracle Mile Advisors LLC grew its stake in shares of CSX by 0.3% during the first quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock worth $3,839,000 after buying an additional 303 shares during the last quarter. Team Hewins LLC increased its holdings in shares of CSX by 1.7% during the first quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock worth $696,000 after buying an additional 306 shares in the last quarter. Finally, Lake Street Advisors Group LLC lifted its stake in shares of CSX by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock valued at $595,000 after acquiring an additional 306 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CSX. Wells Fargo & Company reduced their price objective on CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. BMO Capital Markets dropped their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Stephens decreased their price target on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Sanford C. Bernstein lifted their price target on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.61.

CSX Stock Performance

Shares of CSX stock opened at $33.27 on Friday. The business has a 50-day simple moving average of $34.03 and a 200 day simple moving average of $33.89. The firm has a market capitalization of $65.04 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.90 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. CSX Co. has a one year low of $29.03 and a one year high of $40.12.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 29.11% and a net margin of 24.52%. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the previous year, the company posted $0.42 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. On average, research analysts anticipate that CSX Co. will post 1.93 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 given a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.44%. CSX’s payout ratio is 26.37%.

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.