DNB Asset Management AS decreased its holdings in CSX Co. (NASDAQ:CSX) by 2.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 105,521 shares of the transportation company’s stock after selling 2,343 shares during the quarter. DNB Asset Management AS’s holdings in CSX were worth $7,814,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Egerton Capital UK LLP bought a new stake in shares of CSX in the 2nd quarter worth about $440,710,000. Standard Life Aberdeen plc grew its holdings in CSX by 4.9% during the 2nd quarter. Standard Life Aberdeen plc now owns 6,502,962 shares of the transportation company’s stock worth $414,760,000 after acquiring an additional 301,707 shares during the last quarter. Morgan Stanley grew its holdings in CSX by 13.6% during the 2nd quarter. Morgan Stanley now owns 6,340,678 shares of the transportation company’s stock worth $404,409,000 after acquiring an additional 757,521 shares during the last quarter. Millennium Management LLC grew its holdings in CSX by 13.3% during the 2nd quarter. Millennium Management LLC now owns 4,847,225 shares of the transportation company’s stock worth $309,156,000 after acquiring an additional 569,310 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in CSX by 1.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,281,613 shares of the transportation company’s stock worth $209,302,000 after acquiring an additional 46,078 shares during the last quarter. 74.62% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have commented on CSX. Bank of America increased their price objective on shares of CSX from $77.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, October 1st. Citigroup increased their price objective on shares of CSX from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, October 1st. BMO Capital Markets lowered shares of CSX from an “outperform” rating to a “market perform” rating and set a $65.00 price objective on the stock. in a report on Wednesday, September 5th. They noted that the move was a valuation call. Stephens reissued a “buy” rating and set a $85.00 price objective on shares of CSX in a report on Tuesday. Finally, Morgan Stanley increased their price objective on shares of CSX from $52.00 to $55.00 and gave the stock a “sell” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. CSX has an average rating of “Buy” and an average price target of $72.43.
CSX stock opened at $70.20 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.48 and a current ratio of 1.66. CSX Co. has a 1 year low of $48.26 and a 1 year high of $76.24. The stock has a market cap of $63.59 billion, a price-to-earnings ratio of 30.51, a price-to-earnings-growth ratio of 1.54 and a beta of 1.24.
CSX (NASDAQ:CSX) last released its earnings results on Tuesday, July 17th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.15. CSX had a net margin of 53.27% and a return on equity of 19.31%. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period in the prior year, the company posted $0.64 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. On average, analysts forecast that CSX Co. will post 3.61 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.88 dividend on an annualized basis and a yield of 1.25%. CSX’s payout ratio is presently 38.26%.
CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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