Townsquare Capital LLC Acquires 16,772 Shares of CSX Co. (NASDAQ:CSX)

Townsquare Capital LLC lifted its holdings in CSX Co. (NASDAQ:CSX) by 8.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 221,010 shares of the transportation company’s stock after acquiring an additional 16,772 shares during the quarter. Townsquare Capital LLC’s holdings in CSX were worth $7,631,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Avior Wealth Management LLC lifted its holdings in shares of CSX by 2.5% in the 3rd quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock worth $407,000 after acquiring an additional 293 shares during the last quarter. Western Wealth Management LLC raised its holdings in CSX by 0.8% during the 2nd quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock valued at $1,208,000 after buying an additional 295 shares during the last quarter. TriaGen Wealth Management LLC raised its holdings in CSX by 2.7% during the 2nd quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock valued at $385,000 after buying an additional 300 shares during the last quarter. Lake Street Advisors Group LLC raised its holdings in CSX by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock valued at $595,000 after buying an additional 306 shares during the last quarter. Finally, J.W. Cole Advisors Inc. raised its holdings in CSX by 0.9% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock valued at $1,222,000 after buying an additional 309 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

CSX Stock Performance

Shares of CSX stock opened at $36.58 on Thursday. CSX Co. has a one year low of $31.65 and a one year high of $40.12. The company’s 50-day moving average is $34.64 and its 200 day moving average is $33.99. The company has a market capitalization of $70.54 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 2.32 and a beta of 1.19. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same period last year, the company posted $0.42 earnings per share. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. Sell-side analysts expect that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

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 given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.31%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio (DPR) is 25.81%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CSX. Loop Capital lowered their price target on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Susquehanna lowered their price target on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a report on Thursday, October 17th. Royal Bank of Canada lowered their price target on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Stephens lowered their price target on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Finally, BMO Capital Markets lowered their price target on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.78.

About CSX

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.