CSX Co. (NASDAQ:CSX) Shares Bought by Financial Counselors Inc.

Financial Counselors Inc. lifted its stake in shares of CSX Co. (NASDAQ:CSX) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 350,021 shares of the transportation company’s stock after buying an additional 5,112 shares during the quarter. Financial Counselors Inc.’s holdings in CSX were worth $12,086,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Interval Partners LP grew its holdings in CSX by 849.0% during the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after acquiring an additional 4,579,344 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of CSX during the second quarter worth about $116,430,000. Assenagon Asset Management S.A. grew its stake in CSX by 318.5% in the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock worth $112,946,000 after purchasing an additional 2,489,329 shares in the last quarter. Wulff Hansen & CO. raised its stake in CSX by 3,243.0% during the second quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after buying an additional 2,126,668 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in CSX by 38.7% during the 2nd quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock worth $225,917,000 after buying an additional 1,884,998 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CSX. Loop Capital lowered their price target on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, October 17th. JPMorgan Chase & Co. increased their target price on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Stifel Nicolaus decreased their price target on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Benchmark reiterated a “buy” rating and set a $40.00 price objective on shares of CSX in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada decreased their target price on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.78.

CSX Stock Performance

Shares of CSX opened at $36.58 on Friday. CSX Co. has a 52-week low of $31.65 and a 52-week high of $40.12. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $70.54 billion, a PE ratio of 19.67, a P/E/G ratio of 2.32 and a beta of 1.19. The firm has a 50-day moving average price of $34.67 and a 200 day moving average price of $34.01.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter last year, the business posted $0.42 earnings per share. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, sell-side analysts anticipate that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 1.31%. CSX’s dividend 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.