Connor Clark & Lunn Investment Management Ltd. Has $15.54 Million Stock Position in CSX Co. (NASDAQ:CSX)

Connor Clark & Lunn Investment Management Ltd. lowered its position in shares of CSX Co. (NASDAQ:CSX - Free Report) by 81.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 450,161 shares of the transportation company's stock after selling 1,967,348 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in CSX were worth $15,544,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Valley Wealth Managers Inc. increased its stake in CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company's stock valued at $26,000 after purchasing an additional 480 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in CSX during the 2nd quarter valued at approximately $26,000. MFA Wealth Advisors LLC acquired a new stake in CSX during the 2nd quarter worth approximately $27,000. Fairscale Capital LLC purchased a new position in CSX in the 2nd quarter valued at $32,000. Finally, Morton Brown Family Wealth LLC purchased a new position in CSX during the third quarter worth about $31,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of CSX from $39.00 to $42.00 and gave the company an "overweight" rating in a research report on Tuesday, August 6th. Stephens cut their target price on shares of CSX from $41.00 to $39.00 and set an "overweight" rating for the company in a research report on Thursday, October 17th. Barclays increased their price target on shares of CSX from $40.00 to $41.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. Citigroup raised their price objective on shares of CSX from $42.00 to $44.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Finally, BMO Capital Markets reduced their target price on CSX from $40.00 to $39.00 and set an "outperform" rating on the stock in a research note on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $38.78.

CSX Stock Up 2.1 %

Shares of CSX traded up $0.74 during mid-day trading on Thursday, reaching $35.31. 5,603,653 shares of the stock traded hands, compared to its average volume of 11,688,897. The stock has a fifty day simple moving average of $34.43 and a 200 day simple moving average of $33.93. CSX Co. has a 12-month low of $31.65 and a 12-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 firm has a market cap of $68.09 billion, a price-to-earnings ratio of 18.98, a P/E/G ratio of 2.20 and a beta of 1.19.

CSX (NASDAQ:CSX - Get Free Report) last released its earnings results 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 business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the previous year, the firm earned $0.42 EPS. The firm's revenue for the quarter 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 fiscal year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.36%. CSX's dividend payout ratio 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.