ING Groep NV Raises Stake in CSX Co. (NASDAQ:CSX)

ING Groep NV raised its holdings in CSX Co. (NASDAQ:CSX) by 25.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,834,738 shares of the transportation company’s stock after purchasing an additional 369,197 shares during the quarter. ING Groep NV’s holdings in CSX were worth $63,354,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Itau Unibanco Holding S.A. acquired a new position in CSX in the 2nd quarter valued at about $26,000. MFA Wealth Advisors LLC purchased a new position in shares of CSX in the 2nd quarter valued at approximately $27,000. Fairscale Capital LLC purchased a new position in shares of CSX in the 2nd quarter valued at approximately $32,000. Morton Brown Family Wealth LLC acquired a new position in shares of CSX in the third quarter valued at approximately $31,000. Finally, Addison Advisors LLC raised its stake in shares of CSX by 348.5% during the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock worth $36,000 after purchasing an additional 812 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Price Performance

Shares of CSX stock traded down $0.70 during trading hours on Thursday, hitting $35.78. The company’s stock had a trading volume of 3,867,927 shares, compared to its average volume of 11,688,434. The business has a fifty day moving average of $34.26 and a 200-day moving average of $33.87. The stock has a market cap of $69.00 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 2.29 and a beta of 1.19. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a twelve month low of $30.86 and a twelve month high of $40.12.

CSX (NASDAQ:CSX) last released 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). The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. CSX’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the company posted $0.42 earnings per share. As a group, equities research analysts anticipate that CSX Co. will post 1.84 EPS for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given 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 yield of 1.34%. CSX’s dividend payout ratio (DPR) is currently 25.81%.

Analyst Ratings Changes

A number of research firms recently weighed in on CSX. Barclays lifted their price objective on shares of CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Wells Fargo & Company reduced their price objective on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Stifel Nicolaus lowered their price objective on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Finally, Loop Capital cut their target price on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and an average price target of $38.78.

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.