Partners Group Holding AG Acquires 490,945 Shares of CSX Co. (NASDAQ:CSX)

Partners Group Holding AG lifted its stake in CSX Co. (NASDAQ:CSX) by 67.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,218,143 shares of the transportation company’s stock after buying an additional 490,945 shares during the period. CSX makes up approximately 2.8% of Partners Group Holding AG’s investment portfolio, making the stock its 14th biggest position. Partners Group Holding AG’s holdings in CSX were worth $42,062,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Fisher Asset Management LLC grew its stake in CSX by 3.6% during the third quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock worth $851,404,000 after buying an additional 857,302 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of CSX by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock worth $573,128,000 after acquiring an additional 1,060,204 shares during the period. FMR LLC boosted its position in shares of CSX by 10.2% during the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after acquiring an additional 1,447,651 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in CSX by 9.3% in the second quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock valued at $415,466,000 after acquiring an additional 1,060,617 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in CSX by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,592,143 shares of the transportation company’s stock valued at $400,277,000 after acquiring an additional 51,597 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on CSX shares. TD Cowen cut their target price on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Barclays upped their price objective on CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Royal Bank of Canada decreased their target price on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of CSX in a report on Wednesday, August 7th. Finally, Evercore ISI reduced their price target 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. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.78.

CSX Stock Performance

NASDAQ CSX opened at $36.62 on Tuesday. CSX Co. has a twelve month low of $31.65 and a twelve month 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 company has a market capitalization of $70.62 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 2.27 and a beta of 1.19. The stock has a fifty day simple moving average of $34.53 and a 200 day simple moving average of $33.96.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share 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 for the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the prior year, the business earned $0.42 EPS. CSX’s quarterly revenue was up 1.3% on a year-over-year basis. Sell-side analysts expect that CSX Co. will post 1.84 EPS for the current year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is 25.81%.

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.