Erste Asset Management GmbH Buys New Stake in CSX Co. (NASDAQ:CSX)

Erste Asset Management GmbH bought a new stake in shares of CSX Co. (NASDAQ:CSX - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 63,839 shares of the transportation company's stock, valued at approximately $2,204,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Fisher Asset Management LLC boosted its position in shares of CSX by 3.6% during 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 acquiring an additional 857,302 shares in the last quarter. Bank of New York Mellon Corp increased its stake in CSX by 6.6% in the second 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 in the last quarter. FMR LLC boosted its holdings in shares of CSX by 10.2% in the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company's stock valued at $539,112,000 after buying an additional 1,447,651 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of CSX by 6.1% in the third 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 buying an additional 737,221 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in CSX by 9.3% during the second quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company's stock worth $415,466,000 after purchasing an additional 1,060,617 shares during the last quarter. Institutional investors own 73.57% of the company's stock.

CSX Stock Down 1.9 %

CSX stock traded down $0.70 during trading on Wednesday, hitting $35.30. 17,536,057 shares of the company's stock traded hands, compared to its average volume of 11,660,241. The firm has a market capitalization of $68.07 billion, a P/E ratio of 18.98, a PEG ratio of 2.31 and a beta of 1.20. The business has a fifty day simple moving average of $34.82 and a two-hundred day simple moving average of $34.07. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. CSX Co. has a 1 year low of $31.74 and a 1 year high of $40.12.

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

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.36%. CSX's payout ratio is currently 25.81%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Loop Capital dropped their price target on shares of CSX from $43.00 to $42.00 and set a "buy" rating on the stock in a research report on Thursday, October 17th. Citigroup lifted their target price on shares of CSX from $42.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Benchmark reiterated a "buy" rating and issued a $40.00 price objective on shares of CSX in a research note on Wednesday, August 7th. Stephens reduced their price target 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. Finally, Barclays lifted 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. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.78.

CSX Company 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.