CSX Co. (NASDAQ:CSX) Stake Increased by Zacks Investment Management

Zacks Investment Management increased its stake in CSX Co. (NASDAQ:CSX) by 3.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,767,859 shares of the transportation company’s stock after buying an additional 61,686 shares during the period. Zacks Investment Management owned about 0.09% of CSX worth $61,044,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Banque Cantonale Vaudoise increased its stake in CSX by 149.1% during the second quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock valued at $575,000 after purchasing an additional 10,301 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of CSX by 20.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock worth $16,139,000 after acquiring an additional 80,423 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in CSX by 0.7% in the third quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after purchasing an additional 24,430 shares during the period. Principal Financial Group Inc. lifted its holdings in CSX by 3.4% in the third quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company’s stock worth $81,095,000 after purchasing an additional 77,488 shares during the period. Finally, William B. Walkup & Associates Inc. acquired a new stake in CSX in the second quarter worth about $867,000. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of CSX opened at $34.45 on Friday. CSX Co. has a one year low of $31.74 and a one year high of $40.12. The company has a 50-day moving average of $34.84 and a two-hundred day moving average of $34.07. The stock has a market cap of $66.43 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 2.24 and a beta of 1.20. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last announced 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). CSX had a return on equity of 28.92% and a net margin of 24.77%. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the previous year, the business earned $0.42 earnings per share. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities research analysts expect that CSX Co. will post 1.84 earnings per share for the current year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio (DPR) is 25.81%.

Wall Street Analyst Weigh In

CSX has been the subject of several research analyst reports. Evercore ISI reduced their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. BMO Capital Markets reduced their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Loop Capital reduced their price objective on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Barclays upped their price target on shares of CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company reduced their price objective on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and an average target price of $38.78.

CSX Company 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.