Fisher Asset Management LLC Purchases 857,302 Shares of CSX Co. (NASDAQ:CSX)

Fisher Asset Management LLC boosted its position in CSX Co. (NASDAQ:CSX) by 3.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,656,931 shares of the transportation company’s stock after acquiring an additional 857,302 shares during the period. Fisher Asset Management LLC owned 1.28% of CSX worth $851,404,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. increased its stake in CSX by 15.2% during the 3rd quarter. Daiwa Securities Group Inc. now owns 433,081 shares of the transportation company’s stock valued at $14,955,000 after purchasing an additional 57,134 shares in the last quarter. Summit Trail Advisors LLC grew its holdings in shares of CSX by 4.5% during the third quarter. Summit Trail Advisors LLC now owns 91,293 shares of the transportation company’s stock valued at $3,152,000 after buying an additional 3,961 shares during the last quarter. Borer Denton & Associates Inc. increased its position in shares of CSX by 46.3% during the third quarter. Borer Denton & Associates Inc. now owns 12,349 shares of the transportation company’s stock worth $426,000 after acquiring an additional 3,910 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of CSX by 20.2% in the 3rd quarter. Larson Financial Group LLC now owns 5,957 shares of the transportation company’s stock worth $206,000 after acquiring an additional 1,000 shares during the last quarter. Finally, StoneX Group Inc. lifted its position in CSX by 4.0% in the 3rd quarter. StoneX Group Inc. now owns 39,651 shares of the transportation company’s stock valued at $1,369,000 after acquiring an additional 1,519 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CSX shares. JPMorgan Chase & Co. boosted their price objective on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Barclays upped their price target on CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Susquehanna dropped their price objective on CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research note on Thursday, October 17th. Stephens reduced their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Finally, Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of CSX in a report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $38.78.

CSX Price Performance

CSX stock opened at $35.78 on Monday. The firm has a market capitalization of $69.00 billion, a P/E ratio of 19.24, a PEG ratio of 2.27 and a beta of 1.19. CSX Co. has a one year low of $31.65 and a one year high of $40.12. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The business has a fifty day moving average price of $34.48 and a 200-day moving average price of $33.94.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 EPS. As a group, equities research analysts forecast that CSX Co. will post 1.84 EPS for the current year.

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.34%. CSX’s payout ratio is currently 25.81%.

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.