Leo Wealth LLC Has $863,000 Position in CSX Co. (NASDAQ:CSX)

Leo Wealth LLC boosted its stake in shares of CSX Co. (NASDAQ:CSX) by 17.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,998 shares of the transportation company’s stock after acquiring an additional 3,665 shares during the quarter. Leo Wealth LLC’s holdings in CSX were worth $863,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Interval Partners LP increased its position in shares of CSX by 849.0% during the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after acquiring an additional 4,579,344 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in CSX in the 2nd quarter valued at approximately $116,430,000. M&G Plc bought a new stake in CSX in the 1st quarter valued at approximately $126,089,000. Wulff Hansen & CO. boosted its position in CSX by 3,243.0% during the 2nd quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock worth $73,331,000 after acquiring an additional 2,126,668 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in shares of CSX by 38.7% during the 2nd quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock worth $225,917,000 after acquiring an additional 1,884,998 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CSX shares. Evercore ISI dropped their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. BMO Capital Markets cut their price target on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Citigroup began coverage on CSX in a research report on Wednesday, October 9th. They set a “buy” rating and a $42.00 price target on the stock. Benchmark reaffirmed a “buy” rating and issued a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Finally, Barclays dropped their price target on CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, CSX has an average rating of “Moderate Buy” and an average target price of $38.61.

CSX Stock Performance

CSX opened at $33.85 on Wednesday. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The firm has a market cap of $66.17 billion, a P/E ratio of 18.60, a PEG ratio of 1.90 and a beta of 1.19. The company has a 50 day simple moving average of $34.04 and a two-hundred day simple moving average of $33.90.

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 analysts’ consensus estimates of $0.48 by ($0.02). The company had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $0.42 earnings per share. Equities analysts forecast that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Announces Dividend

The company 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. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. CSX’s payout ratio is currently 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.