CSX Co. (NASDAQ:CSX) is 11 Capital Partners LP’s 4th Largest Position

11 Capital Partners LP grew its stake in CSX Co. (NASDAQ:CSX) by 18.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 685,320 shares of the transportation company’s stock after buying an additional 104,975 shares during the quarter. CSX accounts for approximately 8.9% of 11 Capital Partners LP’s portfolio, making the stock its 4th biggest position. 11 Capital Partners LP’s holdings in CSX were worth $22,924,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MFA Wealth Advisors LLC purchased a new position in shares of CSX in the 2nd quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in CSX during the first quarter worth approximately $29,000. Strategic Financial Concepts LLC purchased a new stake in CSX during the second quarter worth approximately $33,000. Burkett Financial Services LLC purchased a new stake in CSX during the fourth quarter worth approximately $34,000. Finally, Tortoise Investment Management LLC purchased a new stake in CSX during the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CSX shares. Wells Fargo & Company started coverage on CSX in a research note on Friday, June 7th. They set an “equal weight” rating and a $35.00 target price for the company. Stephens reaffirmed an “overweight” rating and set a $42.00 price target on shares of CSX in a research report on Tuesday, August 6th. Benchmark reaffirmed a “buy” rating and set a $40.00 price target on shares of CSX in a research report on Wednesday, August 7th. Evercore ISI raised CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. Finally, Sanford C. Bernstein lifted their price target on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.80.

CSX Stock Up 0.4 %

Shares of NASDAQ:CSX opened at $34.93 on Friday. 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’s fifty day simple moving average is $34.02 and its 200-day simple moving average is $34.39. The company has a market capitalization of $68.29 billion, a P/E ratio of 19.19, a P/E/G ratio of 1.77 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.70 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the business earned $0.49 earnings per share. As a group, equities research analysts forecast that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.12 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.37%. 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.