Clear Creek Financial Management LLC Boosts Position in CSX Co. (NASDAQ:CSX)

Clear Creek Financial Management LLC increased its stake in shares of CSX Co. (NASDAQ:CSX) by 5.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,507 shares of the transportation company’s stock after purchasing an additional 634 shares during the period. Clear Creek Financial Management LLC’s holdings in CSX were worth $397,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise boosted its holdings in CSX by 149.1% in the second quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock valued at $575,000 after acquiring an additional 10,301 shares during the last quarter. Ascent Group LLC grew its position in shares of CSX by 559.7% during the first quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock worth $2,179,000 after acquiring an additional 49,869 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of CSX by 20.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock valued at $16,139,000 after purchasing an additional 80,423 shares during the period. PFG Advisors raised its stake in CSX by 2.1% during the 1st quarter. PFG Advisors now owns 18,880 shares of the transportation company’s stock valued at $700,000 after acquiring an additional 387 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of CSX by 4.2% during the first quarter. Sei Investments Co. now owns 597,426 shares of the transportation company’s stock valued at $22,146,000 after purchasing an additional 23,938 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

CSX opened at $33.36 on Tuesday. CSX Co. has a 12 month low of $30.00 and a 12 month high of $40.12. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The stock has a market cap of $64.33 billion, a P/E ratio of 17.94, a P/E/G ratio of 2.12 and a beta of 1.19. The company has a fifty day simple moving average of $34.01 and a 200 day simple moving average of $33.78.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 EPS. On average, research analysts expect that CSX Co. will post 1.86 EPS for the current year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is 25.81%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CSX. JPMorgan Chase & Co. raised their target price on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Wells Fargo & Company dropped their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Stifel Nicolaus cut their price target on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Finally, Sanford C. Bernstein upped their target price on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.61.

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.