CSX Co. (NASDAQ:CSX) Shares Acquired by ICICI Prudential Asset Management Co Ltd

ICICI Prudential Asset Management Co Ltd lifted its stake in shares of CSX Co. (NASDAQ:CSX) by 17.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,309 shares of the transportation company’s stock after purchasing an additional 3,834 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in CSX were worth $874,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Banque Cantonale Vaudoise grew its stake in shares of CSX by 149.1% during the 2nd quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock worth $575,000 after purchasing an additional 10,301 shares during the period. Ascent Group LLC grew its stake in shares of CSX by 559.7% during the 1st quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock worth $2,179,000 after purchasing an additional 49,869 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of CSX by 20.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock worth $16,139,000 after purchasing an additional 80,423 shares during the period. Principal Financial Group Inc. grew its stake in shares of CSX by 3.4% during the 3rd quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company’s stock worth $81,095,000 after purchasing an additional 77,488 shares during the period. Finally, Sei Investments Co. grew its stake in shares of CSX by 4.2% during the 1st quarter. Sei Investments Co. now owns 597,426 shares of the transportation company’s stock worth $22,146,000 after purchasing an additional 23,938 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSX has been the topic of a number of research reports. BMO Capital Markets lowered their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. JPMorgan Chase & Co. increased their price objective on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Evercore ISI lowered their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. TD Cowen lowered their price objective on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Finally, Barclays lowered their price objective on shares of CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.72.

CSX Trading Up 0.3 %

Shares of CSX stock traded up $0.11 during trading hours on Wednesday, hitting $36.24. 1,795,564 shares of the company were exchanged, compared to its average volume of 11,693,506. The firm has a market cap of $69.89 billion, a PE ratio of 19.42, a PEG ratio of 2.32 and a beta of 1.19. CSX Co. has a 1 year low of $30.86 and a 1 year 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 fifty day moving average of $34.22 and a 200 day moving average of $33.85.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The company’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.42 earnings per share. Analysts expect that CSX Co. will post 1.84 earnings per share for the current year.

CSX Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.32%. CSX’s payout ratio is currently 25.81%.

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.