Erste Asset Management GmbH Buys New Shares in CSX Co. (NASDAQ:CSX)

Erste Asset Management GmbH purchased a new stake in shares of CSX Co. (NASDAQ:CSX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 63,839 shares of the transportation company’s stock, valued at approximately $2,204,000.

A number of other hedge funds have also recently bought and sold shares of CSX. Interval Partners LP increased its stake in shares of 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 purchasing an additional 4,579,344 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in CSX during the second quarter worth about $116,430,000. Assenagon Asset Management S.A. increased its position in CSX by 318.5% during 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 buying an additional 2,489,329 shares during the last quarter. Wulff Hansen & CO. raised its stake in CSX by 3,243.0% in 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 during the period. Finally, Bank of Montreal Can lifted its position in shares of CSX by 38.7% in the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock valued at $225,917,000 after buying an additional 1,884,998 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on CSX. Stifel Nicolaus dropped their price target on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Royal Bank of Canada dropped their price objective on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report 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 report on Thursday, October 17th. Citigroup upped their price target on shares of CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Loop Capital cut their price objective on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.78.

CSX Trading Down 0.9 %

Shares of CSX stock opened at $36.00 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. CSX Co. has a 12-month low of $31.74 and a 12-month high of $40.12. The company has a market capitalization of $69.42 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 2.31 and a beta of 1.20. The firm’s 50-day moving average price is $34.79 and its two-hundred day moving average price is $34.06.

CSX (NASDAQ:CSX) last posted 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 return on equity of 28.92% and a net margin of 24.77%. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the prior year, the business posted $0.42 EPS. The business’s revenue was up 1.3% on a year-over-year basis. On average, analysts forecast that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm 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 dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.33%. CSX’s dividend payout ratio (DPR) is currently 25.81%.

CSX 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.