BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Trims Stock Position in CSX Co. (NASDAQ:CSX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in CSX Co. (NASDAQ:CSX) by 13.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 326,164 shares of the transportation company’s stock after selling 49,071 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in CSX were worth $11,262,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CSX. Interval Partners LP raised its stake in CSX by 849.0% during the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after acquiring an additional 4,579,344 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in CSX during the 2nd quarter worth $116,430,000. Assenagon Asset Management S.A. raised its stake in 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 acquiring an additional 2,489,329 shares in the last quarter. Wulff Hansen & CO. increased its stake in CSX by 3,243.0% in the second quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after purchasing an additional 2,126,668 shares during the period. Finally, Bank of Montreal Can increased its stake in CSX by 38.7% in the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock valued at $225,917,000 after purchasing an additional 1,884,998 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CSX has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price objective on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 17th. Royal Bank of Canada dropped their price objective on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. JPMorgan Chase & Co. lifted their price objective on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Evercore ISI dropped their price objective 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. Finally, Citigroup lifted their price objective on shares of CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.78.

CSX Stock Up 0.2 %

CSX stock opened at $36.55 on Monday. The company has a market cap of $70.48 billion, a P/E ratio of 19.65, a P/E/G ratio of 2.32 and a beta of 1.19. CSX Co. has a 52 week low of $31.72 and a 52 week high of $40.12. The company’s 50-day moving average price is $34.70 and its 200 day moving average price is $34.03. 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 (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The company 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 quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 EPS. On average, research analysts expect that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 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.