JCIC Asset Management Inc. Purchases 102,315 Shares of CSX Co. (NASDAQ:CSX)

JCIC Asset Management Inc. raised its position in shares of CSX Co. (NASDAQ:CSX) by 205.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 152,015 shares of the transportation company’s stock after acquiring an additional 102,315 shares during the quarter. CSX comprises 1.5% of JCIC Asset Management Inc.’s holdings, making the stock its 27th biggest holding. JCIC Asset Management Inc.’s holdings in CSX were worth $4,521,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in CSX by 200.0% during the second quarter. Vanguard Group Inc. now owns 186,291,657 shares of the transportation company’s stock valued at $5,976,237,000 after purchasing an additional 124,203,149 shares during the period. BlackRock Inc. grew its holdings in CSX by 191.3% during the second quarter. BlackRock Inc. now owns 142,288,778 shares of the transportation company’s stock valued at $4,564,624,000 after purchasing an additional 93,442,800 shares during the period. State Street Corp boosted its holdings in shares of CSX by 197.0% in the second quarter. State Street Corp now owns 93,718,213 shares of the transportation company’s stock worth $3,006,480,000 after acquiring an additional 62,168,569 shares during the period. Geode Capital Management LLC boosted its holdings in shares of CSX by 201.2% in the second quarter. Geode Capital Management LLC now owns 36,552,387 shares of the transportation company’s stock worth $1,169,571,000 after acquiring an additional 24,415,872 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of CSX by 188.7% in the second quarter. Bank of New York Mellon Corp now owns 24,666,866 shares of the transportation company’s stock worth $791,313,000 after acquiring an additional 16,123,717 shares during the period. 73.01% of the stock is owned by institutional investors and hedge funds.

NASDAQ CSX traded down $0.23 during trading hours on Thursday, reaching $36.25. 16,542,352 shares of the stock traded hands, compared to its average volume of 11,218,288. The stock has a 50 day simple moving average of $33.63 and a two-hundred day simple moving average of $33.36. CSX Co. has a 1 year low of $27.70 and a 1 year high of $36.57. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.72 and a quick ratio of 1.58. The company has a market cap of $80.40 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 1.94 and a beta of 1.24.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Tuesday, October 19th. The transportation company reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.05. CSX had a return on equity of 25.51% and a net margin of 30.26%. The business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the business posted $0.32 earnings per share. The company’s revenue for the quarter was up 24.3% on a year-over-year basis. On average, sell-side analysts forecast that CSX Co. will post 1.56 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 15th. Stockholders of record on Tuesday, November 30th will be issued a $0.093 dividend. The ex-dividend date of this dividend is Monday, November 29th. This represents a $0.37 annualized dividend and a dividend yield of 1.03%. CSX’s dividend payout ratio is currently 23.27%.

A number of equities analysts have recently commented on the company. Zacks Investment Research lowered CSX from a “buy” rating to a “hold” rating and set a $32.00 price target for the company. in a report on Wednesday, September 29th. Barclays raised their price target on CSX from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, October 21st. Evercore ISI reaffirmed a “buy” rating and issued a $34.00 price target on shares of CSX in a report on Friday, September 24th. TD Securities lifted their price objective on CSX from $39.00 to $41.00 and gave the company a “buy” rating in a research note on Thursday, October 21st. Finally, Raymond James lifted their price objective on CSX from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, October 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, CSX has a consensus rating of “Buy” and an average target price of $36.35.

In related news, EVP Nathan D. Goldman sold 57,793 shares of the business’s stock in a transaction dated Friday, October 22nd. The stock was sold at an average price of $34.94, for a total transaction of $2,019,287.42. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark Kenneth Wallace sold 161,487 shares of the business’s stock in a transaction dated Wednesday, September 8th. The shares were sold at an average price of $31.60, for a total value of $5,102,989.20. Following the transaction, the executive vice president now owns 314,766 shares in the company, valued at approximately $9,946,605.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 257,815 shares of company stock worth $8,487,957. Company insiders own 0.60% of the company’s stock.

CSX Profile

CSX Corp. engages in the provision of rail-based freight transportation services. Its services include rail service, the transport of intermodal containers and trailers, rail-to-truck transfers and bulk commodity operations. The company was founded in 1827 and is headquartered in Jacksonville, FL.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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