Psagot Investment House Ltd. bought a new stake in CSX Co. (NASDAQ:CSX) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,730 shares of the transportation company’s stock, valued at approximately $128,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CSX. Egerton Capital UK LLP purchased a new position in CSX during the second quarter valued at $440,710,000. Standard Life Aberdeen plc raised its stake in CSX by 4.9% during the second quarter. Standard Life Aberdeen plc now owns 6,502,962 shares of the transportation company’s stock valued at $414,760,000 after buying an additional 301,707 shares during the last quarter. Morgan Stanley raised its stake in CSX by 13.6% during the second quarter. Morgan Stanley now owns 6,340,678 shares of the transportation company’s stock valued at $404,409,000 after buying an additional 757,521 shares during the last quarter. Millennium Management LLC raised its stake in CSX by 13.3% during the second quarter. Millennium Management LLC now owns 4,847,225 shares of the transportation company’s stock valued at $309,156,000 after buying an additional 569,310 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in CSX by 41.2% during the third quarter. Wells Fargo & Company MN now owns 3,387,611 shares of the transportation company’s stock valued at $250,852,000 after buying an additional 989,157 shares during the last quarter. Institutional investors own 76.20% of the company’s stock.
CSX stock opened at $71.67 on Friday. CSX Co. has a 1-year low of $48.26 and a 1-year high of $76.24. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.43 and a quick ratio of 1.29. The firm has a market capitalization of $59.42 billion, a PE ratio of 31.16, a price-to-earnings-growth ratio of 1.39 and a beta of 1.27.
CSX (NASDAQ:CSX) last issued its quarterly earnings data on Tuesday, October 16th. The transportation company reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.11. CSX had a return on equity of 21.38% and a net margin of 55.19%. The company had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. CSX’s revenue was up 14.1% compared to the same quarter last year. As a group, research analysts anticipate that CSX Co. will post 3.8 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Thursday, November 29th. CSX’s payout ratio is currently 38.26%.
A number of research analysts have issued reports on CSX shares. Deutsche Bank lifted their price objective on CSX from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, September 27th. Morgan Stanley set a $55.00 price target on CSX and gave the stock a “sell” rating in a research note on Monday, October 22nd. Citigroup boosted their price target on CSX from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, October 1st. BMO Capital Markets cut CSX from an “outperform” rating to a “market perform” rating and set a $65.00 price target for the company. in a research note on Wednesday, September 5th. They noted that the move was a valuation call. Finally, Bank of America boosted their price target on CSX from $77.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, October 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $77.60.
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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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