Glenmede Trust Co. NA Increases Stake in CSX Co. (NASDAQ:CSX)

Glenmede Trust Co. NA increased its position in shares of CSX Co. (NASDAQ:CSX) by 0.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 659,880 shares of the transportation company’s stock after buying an additional 1,222 shares during the period. Glenmede Trust Co. NA’s holdings in CSX were worth $22,786,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Interval Partners LP lifted its stake in 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 last quarter. Manning & Napier Advisors LLC acquired a new stake in CSX during the second quarter worth approximately $116,430,000. Assenagon Asset Management S.A. lifted its position in shares of CSX by 318.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock worth $112,946,000 after buying an additional 2,489,329 shares during the last quarter. Wulff Hansen & CO. boosted its holdings in shares of CSX by 3,243.0% in the 2nd quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after buying an additional 2,126,668 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of CSX by 38.7% in the 2nd quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock valued at $225,917,000 after buying an additional 1,884,998 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on CSX. Benchmark restated a “buy” rating and issued a $40.00 price objective on shares of CSX in a research note on Wednesday, August 7th. Susquehanna reduced their price objective on CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Thursday, October 17th. Loop Capital decreased their price objective on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Stephens cut their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Finally, Stifel Nicolaus dropped their price objective on shares of CSX from $39.00 to $37.00 and set a “buy” rating on the stock 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.78.

CSX Trading Down 0.3 %

CSX stock opened at $36.58 on Thursday. CSX Co. has a 52 week low of $31.65 and a 52 week high of $40.12. The company has a market cap of $70.54 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 2.32 and a beta of 1.19. 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 business has a fifty day simple moving average of $34.64 and a 200-day simple moving average of $33.99.

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). The firm 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 firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 EPS. On average, equities research analysts expect that CSX Co. will post 1.84 EPS for the current year.

CSX Announces Dividend

The business also recently declared 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. This represents a $0.48 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 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.