Victory Capital Management Inc. Acquires 238,079 Shares of CSX Co. (NASDAQ:CSX)

Victory Capital Management Inc. boosted its holdings in CSX Co. (NASDAQ:CSX) by 13.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,957,688 shares of the transportation company’s stock after acquiring an additional 238,079 shares during the period. Victory Capital Management Inc.’s holdings in CSX were worth $67,599,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CSX. Interval Partners LP increased its stake in shares of CSX by 849.0% during the second 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 period. Manning & Napier Advisors LLC acquired a new stake in shares of CSX during the second quarter worth $116,430,000. M&G Plc acquired a new stake in shares of CSX during the first quarter worth $126,089,000. Assenagon Asset Management S.A. grew its stake in shares of 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 valued at $112,946,000 after acquiring an additional 2,489,329 shares in the last quarter. Finally, Wulff Hansen & CO. increased its position 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 worth $73,331,000 after acquiring an additional 2,126,668 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Down 2.3 %

Shares of NASDAQ:CSX opened at $35.63 on Friday. CSX Co. has a 52-week low of $30.86 and a 52-week high of $40.12. The company has a market capitalization of $68.71 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 2.29 and a beta of 1.19. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The company has a fifty day moving average of $34.26 and a 200-day moving average of $33.87.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the company earned $0.42 EPS. CSX’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities analysts predict that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.35%. CSX’s dividend payout ratio (DPR) is presently 25.81%.

Analyst Ratings Changes

A number of analysts have issued reports on CSX shares. BMO Capital Markets cut 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 target on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Susquehanna cut their target price on CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research report on Thursday, October 17th. Stephens decreased their price target on CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Finally, Royal Bank of Canada cut their price objective on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.