Vinva Investment Management Ltd Grows Stake in CSX Co. (NASDAQ:CSX)

Vinva Investment Management Ltd grew its holdings in CSX Co. (NASDAQ:CSX) by 14.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 88,931 shares of the transportation company’s stock after acquiring an additional 11,244 shares during the quarter. Vinva Investment Management Ltd’s holdings in CSX were worth $3,071,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Fisher Asset Management LLC boosted its position in shares of CSX by 3.6% in the 3rd quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock valued at $851,404,000 after purchasing an additional 857,302 shares during the period. Bank of New York Mellon Corp boosted its position in shares of CSX by 6.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock valued at $573,128,000 after purchasing an additional 1,060,204 shares during the period. FMR LLC boosted its position in shares of CSX by 10.2% in the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after purchasing an additional 1,447,651 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of CSX by 6.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,745,972 shares of the transportation company’s stock valued at $440,118,000 after purchasing an additional 737,221 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of CSX by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock valued at $415,466,000 after purchasing an additional 1,060,617 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Royal Bank of Canada decreased their target price on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Citigroup increased their price objective on CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. BMO Capital Markets decreased their price objective on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Susquehanna decreased their price objective on CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research report on Thursday, October 17th. Finally, Barclays increased 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. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus target price of $38.78.

CSX Stock Down 0.3 %

CSX opened at $36.58 on Friday. CSX Co. has a 12 month low of $31.65 and a 12 month high of $40.12. The stock has a market capitalization of $70.54 billion, a P/E ratio of 19.67, a P/E/G ratio of 2.32 and a beta of 1.19. The business has a 50 day simple moving average of $34.67 and a 200-day simple moving average of $34.01. 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 released 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). CSX had a net margin of 24.77% and a return on equity of 28.92%. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same period in the previous year, the business earned $0.42 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities analysts anticipate that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Dividend Announcement

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

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.