Factorial Partners LLC Grows Holdings in CSX Co. (NASDAQ:CSX)

by · The Markets Daily

Factorial Partners LLC boosted its holdings in shares of CSX Co. (NASDAQ:CSX – Free Report) by 13.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,500 shares of the transportation company’s stock after acquiring an additional 11,500 shares during the period. CSX accounts for about 1.9% of Factorial Partners LLC’s investment portfolio, making the stock its 22nd largest holding. Factorial Partners LLC’s holdings in CSX were worth $3,298,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC lifted its position in CSX by 12.0% during the first quarter. Acadian Asset Management LLC now owns 42,999 shares of the transportation company’s stock valued at $1,592,000 after purchasing an additional 4,606 shares during the period. Clearbridge Investments LLC grew its stake in shares of CSX by 1.8% in the 1st quarter. Clearbridge Investments LLC now owns 66,026 shares of the transportation company’s stock worth $2,448,000 after buying an additional 1,170 shares in the last quarter. Bessemer Group Inc. raised its position in CSX by 49.1% during the first quarter. Bessemer Group Inc. now owns 117,154 shares of the transportation company’s stock valued at $4,343,000 after purchasing an additional 38,560 shares during the period. Lake Street Advisors Group LLC increased its position in CSX by 7.0% during the first quarter. Lake Street Advisors Group LLC now owns 16,855 shares of the transportation company’s stock valued at $625,000 after acquiring an additional 1,097 shares during the last quarter. Finally, Delap Wealth Advisory LLC bought a new position in shares of CSX during the first quarter valued at approximately $284,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

NASDAQ CSX opened at $34.60 on Wednesday. CSX Co. has a 1-year low of $31.44 and a 1-year high of $40.12. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The stock’s 50 day simple moving average is $34.37 and its 200-day simple moving average is $33.92. The company has a market cap of $66.72 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19.

CSX (NASDAQ:CSX – Get Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter last year, the company earned $0.42 earnings per share. CSX’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities research analysts anticipate that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently disclosed 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. This represents a $0.48 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio is presently 25.81%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. BMO Capital Markets dropped their price objective on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Wells Fargo & Company reduced their price target 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. Stephens lowered their target price 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. Stifel Nicolaus reduced their price objective on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Finally, Royal Bank of Canada lowered their price target on shares of CSX from $36.00 to $35.00 and set a “sector perform” 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.78.

Check Out Our Latest Research Report on CSX

CSX Profile

(Free Report)

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.

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