PNC Financial Services Group Inc. Grows Position in CSX Co. (NASDAQ:CSX)

PNC Financial Services Group Inc. lifted its position in shares of CSX Co. (NASDAQ:CSX) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,521,214 shares of the transportation company’s stock after purchasing an additional 146,973 shares during the quarter. PNC Financial Services Group Inc. owned 0.34% of CSX worth $225,178,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Banque Cantonale Vaudoise increased its holdings in CSX by 149.1% in the second quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock valued at $575,000 after buying an additional 10,301 shares in the last quarter. Ascent Group LLC raised its holdings in CSX by 559.7% in 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. raised its holdings in CSX by 20.8% in 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. Thrivent Financial for Lutherans boosted its position in CSX by 0.7% during the third quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after purchasing an additional 24,430 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in CSX by 3.4% in the third quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company’s stock valued at $81,095,000 after purchasing an additional 77,488 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Trading Down 0.5 %

NASDAQ CSX opened at $34.97 on Tuesday. CSX Co. has a 12 month low of $31.44 and a 12 month high of $40.12. The stock has a market capitalization of $67.44 billion, a P/E ratio of 18.80, a PEG ratio of 2.23 and a beta of 1.19. The firm’s 50-day moving average is $34.35 and its two-hundred day moving average is $33.91. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 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 company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the prior year, the company posted $0.42 earnings per share. The business’s revenue was up 1.3% compared to the same quarter last year. On average, sell-side analysts anticipate that CSX Co. will post 1.84 earnings per share for the current year.

CSX Dividend Announcement

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 paid 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 payout ratio is presently 25.81%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CSX. Susquehanna reduced their target price on CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Thursday, October 17th. JPMorgan Chase & Co. lifted their target price on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Loop Capital reduced their price target 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. Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of CSX in a report on Wednesday, August 7th. Finally, Wells Fargo & Company reduced their target price on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, CSX has an average rating of “Moderate Buy” and an average price target 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.