Addison Advisors LLC Has $36,000 Position in CSX Co. (NASDAQ:CSX)

Addison Advisors LLC raised its stake in shares of CSX Co. (NASDAQ:CSX) by 348.5% in the third quarter, Holdings Channel reports. The fund owned 1,045 shares of the transportation company’s stock after acquiring an additional 812 shares during the period. Addison Advisors LLC’s holdings in CSX were worth $36,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in CSX by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock worth $2,418,883,000 after purchasing an additional 443,755 shares in the last quarter. Bank of New York Mellon Corp lifted its position in CSX by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock worth $573,128,000 after buying an additional 1,060,204 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in CSX by 9.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock worth $415,466,000 after acquiring an additional 1,060,617 shares during the last quarter. Bank of Montreal Can increased its position in 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 acquiring an additional 1,884,998 shares in the last quarter. Finally, Interval Partners LP increased its position in 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 acquiring an additional 4,579,344 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Susquehanna lowered their target price on CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Thursday, October 17th. TD Cowen cut their price target on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Stifel Nicolaus lowered their price objective on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Finally, Royal Bank of Canada reduced their target price on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and an average target price of $38.61.

CSX Price Performance

Shares of CSX opened at $36.52 on Tuesday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The firm has a market capitalization of $70.43 billion, a PE ratio of 19.63, a P/E/G ratio of 2.28 and a beta of 1.19. The stock has a 50 day simple moving average of $34.15 and a 200 day simple moving average of $33.82. CSX Co. has a 52-week low of $30.30 and a 52-week high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings data 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 company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.42 EPS. Sell-side analysts predict that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.31%. CSX’s dividend payout ratio is currently 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.