State Street Corp Boosts Stock Position in CSX Co. (NASDAQ:CSX)

State Street Corp increased its stake in CSX Co. (NASDAQ:CSX - Free Report) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,250,713 shares of the transportation company's stock after buying an additional 455,258 shares during the period. State Street Corp owned 4.27% of CSX worth $2,840,117,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Banque Cantonale Vaudoise boosted its holdings in shares of CSX by 149.1% during the 2nd quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company's stock valued at $575,000 after buying an additional 10,301 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in CSX by 20.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company's stock valued at $16,139,000 after acquiring an additional 80,423 shares during the period. Thrivent Financial for Lutherans boosted its stake in CSX by 0.7% during the third quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company's stock worth $116,521,000 after acquiring an additional 24,430 shares in the last quarter. Principal Financial Group Inc. grew its holdings in CSX by 3.4% in the third quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company's stock worth $81,095,000 after purchasing an additional 77,488 shares during the period. Finally, William B. Walkup & Associates Inc. purchased a new stake in CSX in the second quarter worth about $867,000. 73.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CSX shares. Stephens dropped their price target on CSX from $41.00 to $39.00 and set an "overweight" rating on the stock in a research report on Thursday, October 17th. TD Cowen dropped their target price on CSX from $36.00 to $35.00 and set a "hold" rating on the stock in a report on Thursday, October 17th. Loop Capital cut their target price on CSX from $43.00 to $42.00 and set a "buy" rating on the stock in a research note on Thursday, October 17th. Wells Fargo & Company lowered their price target on CSX from $35.00 to $34.00 and set an "equal weight" rating for the company in a research report on Thursday, October 17th. Finally, Citigroup increased their price objective on shares of CSX from $42.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, CSX presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.78.

CSX Stock Performance

Shares of CSX traded down $0.17 during trading hours on Friday, hitting $34.45. The stock had a trading volume of 10,491,927 shares, compared to its average volume of 11,659,890. The firm has a market capitalization of $66.43 billion, a PE ratio of 18.52, a PEG ratio of 2.28 and a beta of 1.20. 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 Co. has a 12 month low of $31.74 and a 12 month high of $40.12. The stock has a fifty day moving average price of $34.84 and a 200 day moving average price of $34.07.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly 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). CSX had a net margin of 24.77% and a return on equity of 28.92%. The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the prior year, the firm earned $0.42 earnings per share. The company's revenue for the quarter was up 1.3% compared to the same quarter last year. Analysts anticipate that CSX Co. will post 1.84 EPS for the current 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 given a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.39%. CSX's 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.