KG&L Capital Management LLC Makes New Investment in CSX Co. (NASDAQ:CSX)

KG&L Capital Management LLC purchased a new position in shares of CSX Co. (NASDAQ:CSX) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,565 shares of the transportation company’s stock, valued at approximately $316,000.

Several other hedge funds also recently added to or reduced their stakes in CSX. First Trust Advisors LP raised its position in shares of CSX by 157.7% during the 1st quarter. First Trust Advisors LP now owns 889,852 shares of the transportation company’s stock worth $66,579,000 after buying an additional 544,542 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in shares of CSX by 5.5% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,594,156 shares of the transportation company’s stock worth $119,276,000 after purchasing an additional 83,296 shares during the last quarter. Riverhead Capital Management LLC grew its stake in shares of CSX by 26.5% in the 1st quarter. Riverhead Capital Management LLC now owns 59,414 shares of the transportation company’s stock worth $4,445,000 after purchasing an additional 12,452 shares during the last quarter. Baltimore Capital Management Inc. acquired a new position in shares of CSX in the 1st quarter worth approximately $220,000. Finally, SRB Corp grew its stake in shares of CSX by 25.6% in the 1st quarter. SRB Corp now owns 9,965 shares of the transportation company’s stock worth $746,000 after purchasing an additional 2,033 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Several equities analysts have recently issued reports on CSX shares. UBS Group lowered their price objective on shares of CSX from $81.00 to $75.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 17th. BidaskClub raised shares of CSX from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. cut shares of CSX from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $83.00 to $76.00 in a research note on Friday, October 4th. They noted that the move was a valuation call. Raymond James lowered their price objective on shares of CSX from $84.00 to $81.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Finally, TD Securities lowered their price objective on shares of CSX from $81.00 to $77.00 and set a “hold” rating on the stock in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $77.82.

Shares of CSX stock traded up $2.11 during trading on Friday, hitting $69.05. The stock had a trading volume of 4,376,057 shares, compared to its average volume of 5,064,349. The stock has a 50 day simple moving average of $67.92 and a 200 day simple moving average of $73.21. The company has a market capitalization of $52.56 billion, a PE ratio of 17.98, a P/E/G ratio of 1.23 and a beta of 1.24. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 1.26. CSX Co. has a 1 year low of $58.47 and a 1 year high of $80.73.

CSX (NASDAQ:CSX) last released its earnings results on Tuesday, July 16th. The transportation company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.03). The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.14 billion. CSX had a return on equity of 26.96% and a net margin of 27.87%. The business’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the business earned $1.01 earnings per share. As a group, equities analysts expect that CSX Co. will post 4.11 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Wednesday, November 27th. CSX’s dividend payout ratio (DPR) is currently 25.00%.

CSX Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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