New Century Financial Group LLC Increases Stock Position in CSX Co. (NASDAQ:CSX)

New Century Financial Group LLC raised its position in CSX Co. (NASDAQ:CSX) by 22.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,751 shares of the transportation company’s stock after buying an additional 1,940 shares during the period. New Century Financial Group LLC’s holdings in CSX were worth $371,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in CSX in the 2nd quarter worth $26,000. MFA Wealth Advisors LLC purchased a new stake in shares of CSX during the second quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of CSX during the first quarter worth approximately $29,000. Fairscale Capital LLC acquired a new position in CSX in the 2nd quarter valued at $32,000. Finally, Strategic Financial Concepts LLC purchased a new position in shares of CSX in the second quarter worth about $33,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CSX. Evercore ISI cut their price target on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday. TD Cowen lowered their price objective on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday. Bank of America cut shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Monday, July 8th. Stifel Nicolaus lowered their price target on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Stephens cut their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.61.

CSX Stock Performance

Shares of CSX opened at $34.12 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The stock has a 50 day moving average price of $34.02 and a 200 day moving average price of $33.93. The company has a market capitalization of $66.70 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its earnings results 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). CSX had a net margin of 24.52% and a return on equity of 29.11%. The company had revenue of $3.62 billion during 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 company’s quarterly revenue was up 1.3% on a year-over-year basis. Research analysts predict that CSX Co. will post 1.93 EPS for the current fiscal 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 issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is currently 26.37%.

CSX 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.