CIBC Asset Management Inc Purchases 28,979 Shares of CSX Co. (NASDAQ:CSX)

CIBC Asset Management Inc grew its holdings in CSX Co. (NASDAQ:CSX - Free Report) by 5.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 603,509 shares of the transportation company's stock after acquiring an additional 28,979 shares during the period. CIBC Asset Management Inc's holdings in CSX were worth $20,839,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CSX. Intellectus Partners LLC boosted its position in shares of CSX by 36.1% during the third quarter. Intellectus Partners LLC now owns 43,234 shares of the transportation company's stock worth $1,493,000 after acquiring an additional 11,462 shares during the last quarter. OneDigital Investment Advisors LLC boosted its holdings in shares of CSX by 0.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 68,011 shares of the transportation company's stock valued at $2,348,000 after purchasing an additional 522 shares during the last quarter. ING Groep NV grew its position in shares of CSX by 25.2% during the third quarter. ING Groep NV now owns 1,834,738 shares of the transportation company's stock valued at $63,354,000 after purchasing an additional 369,197 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of CSX by 6.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 49,306 shares of the transportation company's stock worth $1,703,000 after purchasing an additional 2,929 shares during the last quarter. Finally, Metis Global Partners LLC lifted its position in shares of CSX by 1.2% in the third quarter. Metis Global Partners LLC now owns 63,455 shares of the transportation company's stock worth $2,191,000 after buying an additional 729 shares in the last quarter. Institutional investors own 73.57% of the company's stock.

CSX Trading Down 1.4 %

NASDAQ:CSX traded down $0.50 during midday trading on Friday, hitting $35.13. The stock had a trading volume of 10,597,925 shares, compared to its average volume of 11,734,151. 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 stock has a 50-day moving average of $34.32 and a 200 day moving average of $33.89. The company has a market capitalization of $67.75 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 2.32 and a beta of 1.19. CSX Co. has a one year low of $30.86 and a one year high of $40.12.

CSX (NASDAQ:CSX - Get Free Report) 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). The firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The business's revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 earnings per share. As a group, sell-side analysts forecast that CSX Co. will post 1.84 EPS for the current year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.37%. The ex-dividend date is Friday, November 29th. CSX's payout ratio is 25.81%.

Analysts Set New Price Targets

A number of analysts have issued reports on CSX shares. Benchmark reaffirmed a "buy" rating and issued a $40.00 price objective on shares of CSX in a research note on Wednesday, August 7th. Barclays upped their price target on shares of CSX from $40.00 to $41.00 and gave the company an "overweight" rating in a research note on Wednesday. Susquehanna reduced their target price on shares of CSX from $42.00 to $40.00 and set a "positive" rating on the stock in a report on Thursday, October 17th. Wells Fargo & Company reduced their price objective on CSX from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 17th. Finally, Loop Capital dropped their target price on CSX from $43.00 to $42.00 and set a "buy" rating for the company in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.78.

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.