Svenska Handelsbanken AB publ Buys New Shares in CSX Co. (NASDAQ:CSX)

Svenska Handelsbanken AB publ purchased a new position in CSX Co. (NASDAQ:CSX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 898,297 shares of the transportation company’s stock, valued at approximately $31,018,000. CSX accounts for approximately 15.6% of Svenska Handelsbanken AB publ’s investment portfolio, making the stock its 5th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of CSX by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock valued at $2,418,883,000 after buying an additional 443,755 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of CSX by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock valued at $573,128,000 after buying an additional 1,060,204 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in CSX by 9.3% during the second quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock worth $415,466,000 after buying an additional 1,060,617 shares in the last quarter. Bank of Montreal Can raised its position in CSX by 38.7% in the 2nd 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. Finally, Interval Partners LP lifted its stake in CSX by 849.0% during the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock valued at $171,222,000 after acquiring an additional 4,579,344 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on CSX. Barclays lowered their target price on shares of CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. JPMorgan Chase & Co. boosted their target price on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Susquehanna increased their price target on CSX from $41.00 to $42.00 and gave the company a “positive” rating in a research report on Wednesday, October 2nd. Citigroup initiated coverage on CSX in a report on Wednesday, October 9th. They set a “buy” rating and a $42.00 price target on the stock. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $36.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $39.19.

CSX Trading Up 1.2 %

Shares of CSX stock opened at $34.96 on Monday. The stock has a market capitalization of $68.34 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.90 and a beta of 1.19. The company’s fifty day simple moving average is $33.93 and its two-hundred day simple moving average is $34.01. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. CSX had a return on equity of 29.11% and a net margin of 24.52%. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period in the previous year, the company posted $0.49 EPS. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, analysts anticipate that CSX Co. will post 1.93 earnings per share for the current year.

CSX Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.37%. CSX’s dividend payout ratio (DPR) is currently 26.37%.

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.