NorthCrest Asset Manangement LLC Has $16.28 Million Stock Holdings in CSX Co. (NASDAQ:CSX)

NorthCrest Asset Manangement LLC lifted its position in CSX Co. (NASDAQ:CSX) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 553,131 shares of the transportation company’s stock after acquiring an additional 11,972 shares during the period. NorthCrest Asset Manangement LLC’s holdings in CSX were worth $16,279,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP raised its holdings in CSX by 14.7% during the 4th quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company’s stock worth $3,794,000 after buying an additional 15,029 shares during the period. Waycross Partners LLC raised its holdings in CSX by 7.0% during the 4th quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock worth $19,990,000 after buying an additional 40,611 shares during the period. Cercano Management LLC acquired a new stake in CSX during the 4th quarter worth approximately $4,869,000. Geode Capital Management LLC raised its holdings in CSX by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company’s stock worth $1,339,555,000 after buying an additional 726,507 shares during the period. Finally, Principal Securities Inc. grew its stake in shares of CSX by 6.4% during the 4th quarter. Principal Securities Inc. now owns 26,933 shares of the transportation company’s stock worth $869,000 after acquiring an additional 1,614 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Trading Up 0.2%

Shares of CSX stock opened at $32.39 on Friday. The business has a fifty day simple moving average of $29.63 and a two-hundred day simple moving average of $31.30. CSX Co. has a 1 year low of $26.22 and a 1 year high of $37.10. The company has a market capitalization of $60.85 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 1.92 and a beta of 1.24. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a net margin of 23.95% and a return on equity of 28.15%. The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. Research analysts forecast that CSX Co. will post 1.83 EPS for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Friday, May 30th. CSX’s dividend payout ratio is currently 31.14%.

Analysts Set New Price Targets

CSX has been the subject of several research reports. Argus set a $32.00 price target on shares of CSX in a research note on Friday, April 25th. Barclays decreased their price target on shares of CSX from $35.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CSX in a research note on Friday, March 7th. They set a “hold” rating and a $34.00 price target for the company. UBS Group decreased their price target on shares of CSX from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Finally, Raymond James reaffirmed an “outperform” rating and set a $33.00 price target (down from $34.00) on shares of CSX in a research note on Thursday, April 17th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.95.

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.