Rockbridge Investment Management LCC Makes New $205,000 Investment in CSX Co. (NASDAQ:CSX)

Rockbridge Investment Management LCC purchased a new position in CSX Co. (NASDAQ:CSX) during the third quarter, HoldingsChannel reports. The institutional investor purchased 5,934 shares of the transportation company’s stock, valued at approximately $205,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its stake in shares of CSX by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock valued at $2,418,883,000 after purchasing an additional 443,755 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of CSX by 6.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock valued at $573,128,000 after purchasing an additional 1,060,204 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of CSX by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock valued at $415,466,000 after purchasing an additional 1,060,617 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of CSX by 38.7% in the 2nd quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock valued at $225,917,000 after purchasing an additional 1,884,998 shares in the last quarter. Finally, Interval Partners LP lifted 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 valued at $171,222,000 after purchasing an additional 4,579,344 shares in the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on CSX shares. JPMorgan Chase & Co. raised their target price on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. TD Cowen dropped their target price on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Evercore ISI dropped their target price on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. BMO Capital Markets dropped their target price on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, Loop Capital dropped their target price on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.61.

CSX Price Performance

Shares of CSX opened at $36.00 on Friday. The firm has a market cap of $69.42 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 2.12 and a beta of 1.19. The stock has a 50 day moving average of $34.15 and a 200-day moving average of $33.82. 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 52 week low of $30.13 and a 52 week high of $40.12.

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

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 dividend yield of 1.33%. CSX’s payout ratio is 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.