Campbell & CO Investment Adviser LLC Acquires New Stake in CSX Co. (CSX)
Campbell & CO Investment Adviser LLC acquired a new stake in shares of CSX Co. (NASDAQ:CSX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,972 shares of the transportation company’s stock, valued at approximately $1,405,000. CSX comprises 1.0% of Campbell & CO Investment Adviser LLC’s portfolio, making the stock its 5th biggest holding.
Other institutional investors have also recently bought and sold shares of the company. Morningstar Investment Services LLC bought a new position in shares of CSX in the second quarter worth about $204,000. Whitener Capital Management Inc. bought a new position in shares of CSX in the third quarter worth about $196,000. Meeder Asset Management Inc. bought a new position in shares of CSX in the second quarter worth about $376,000. Millennium Management LLC boosted its stake in shares of CSX by 13.3% in the second quarter. Millennium Management LLC now owns 4,847,225 shares of the transportation company’s stock worth $309,156,000 after acquiring an additional 569,310 shares during the period. Finally, Hartford Financial Management Inc. boosted its stake in shares of CSX by 56.0% in the second quarter. Hartford Financial Management Inc. now owns 109,736 shares of the transportation company’s stock worth $6,999,000 after acquiring an additional 39,409 shares during the period. Institutional investors own 76.43% of the company’s stock.
A number of research firms have recently weighed in on CSX. BidaskClub raised CSX from a “hold” rating to a “buy” rating in a research note on Wednesday, August 15th. Cowen upped their price objective on CSX from $74.00 to $77.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 17th. BMO Capital Markets lowered CSX from an “outperform” rating to a “market perform” rating and set a $65.00 price objective for the company. in a research note on Wednesday, September 5th. They noted that the move was a valuation call. TD Securities upped their price objective on CSX from $76.00 to $80.00 and gave the stock a “hold” rating in a research note on Wednesday, October 17th. Finally, Scotiabank set a $81.00 price objective on CSX and gave the stock a “hold” rating in a research note on Wednesday, October 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $77.60.
CSX (NASDAQ:CSX) last announced its quarterly earnings results on Tuesday, October 16th. The transportation company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.11. CSX had a return on equity of 21.38% and a net margin of 55.19%. The company had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same period in the prior year, the company earned $0.51 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. Research analysts predict that CSX Co. will post 3.8 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Thursday, November 29th. CSX’s payout ratio is presently 38.26%.
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CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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