Ninepoint Partners LP Raises Holdings in CSX Co. (NASDAQ:CSX)

Ninepoint Partners LP lifted its stake in CSX Co. (NASDAQ:CSX) by 15.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,654 shares of the transportation company’s stock after buying an additional 3,886 shares during the quarter. Ninepoint Partners LP’s holdings in CSX were worth $992,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CSX. Price T Rowe Associates Inc. MD boosted its stake in shares of CSX by 18.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock worth $2,246,893,000 after buying an additional 9,914,656 shares during the last quarter. Capital International Investors boosted its position in CSX by 14.3% during the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after purchasing an additional 5,041,679 shares in the last quarter. Interval Partners LP boosted its position in 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 purchasing an additional 4,579,344 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in CSX during the second quarter worth approximately $116,430,000. Finally, M&G Plc purchased a new position in CSX during the first quarter worth approximately $126,089,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

NASDAQ:CSX opened at $34.53 on Friday. CSX Co. has a one year low of $29.03 and a one year high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. The stock has a market cap of $67.50 billion, a PE ratio of 18.97, a P/E/G ratio of 1.91 and a beta of 1.19. The stock has a 50 day moving average price of $33.92 and a 200 day moving average price of $34.25.

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

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.39%. CSX’s dividend payout ratio (DPR) is 26.37%.

Wall Street Analyst Weigh In

CSX has been the topic of a number of recent analyst reports. Barclays lowered their price target on CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday. Stephens reiterated an “overweight” rating and set a $42.00 price target on shares of CSX in a research report on Tuesday, August 6th. BMO Capital Markets reiterated an “outperform” rating and set a $40.00 price target on shares of CSX in a research report on Tuesday, August 6th. Susquehanna increased their price target on CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $36.00 price target on shares of CSX in a research report on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.93.

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.