Fisher Asset Management LLC Increases Stock Holdings in CSX Co. (NASDAQ:CSX)

Fisher Asset Management LLC lifted its position in CSX Co. (NASDAQ:CSX - Free Report) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,656,931 shares of the transportation company's stock after acquiring an additional 857,302 shares during the quarter. Fisher Asset Management LLC owned 1.28% of CSX worth $851,404,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Valley Wealth Managers Inc. grew 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 last quarter. Itau Unibanco Holding S.A. purchased a new position in CSX in the second quarter valued at about $26,000. MFA Wealth Advisors LLC purchased a new position in CSX in the second quarter valued at about $27,000. Fairscale Capital LLC purchased a new position in CSX in the second quarter valued at about $32,000. Finally, Morton Brown Family Wealth LLC purchased a new position in CSX in the third quarter valued at about $31,000. 73.57% of the stock is currently owned by institutional investors.

CSX Stock Performance

CSX stock traded up $0.84 during mid-day trading on Monday, hitting $36.62. The company had a trading volume of 13,873,066 shares, compared to its average volume of 11,700,563. 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 Co. has a 12-month low of $31.65 and a 12-month high of $40.12. The company's fifty day moving average is $34.53 and its 200-day moving average is $33.96. The company has a market capitalization of $70.62 billion, a price-to-earnings ratio of 19.69, a P/E/G ratio of 2.27 and a beta of 1.19.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The company had revenue of $3.62 billion during the quarter, compared to analysts' expectations of $3.68 billion. During the same quarter in the prior year, the company posted $0.42 EPS. The company's revenue for the quarter was up 1.3% on a year-over-year basis. Equities research analysts predict 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. Shareholders 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 annualized dividend and a yield of 1.31%. CSX's dividend payout ratio is presently 25.81%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. 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. Susquehanna dropped their price target on CSX from $42.00 to $40.00 and set a "positive" rating on the stock in a research note on Thursday, October 17th. Citigroup boosted their price target on CSX from $42.00 to $44.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Stifel Nicolaus dropped their price target on CSX from $39.00 to $37.00 and set a "buy" rating on the stock in a research note on Thursday, October 17th. Finally, Barclays boosted their price target on CSX from $40.00 to $41.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.