Harvest Fund Management Co. Ltd Purchases 30,150 Shares of CSX Co. (NASDAQ:CSX)

Harvest Fund Management Co. Ltd grew its holdings in shares of CSX Co. (NASDAQ:CSX - Free Report) by 51.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,305 shares of the transportation company's stock after purchasing an additional 30,150 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in CSX were worth $3,083,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Advisors Asset Management Inc. lifted its stake in shares of CSX by 581.7% in the first quarter. Advisors Asset Management Inc. now owns 5,283 shares of the transportation company's stock worth $196,000 after buying an additional 4,508 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in CSX in the 1st quarter valued at approximately $1,950,000. Interval Partners LP bought a new position in CSX in the 1st quarter worth approximately $19,996,000. B. Riley Wealth Advisors Inc. boosted its position in shares of CSX by 4.1% in the first quarter. B. Riley Wealth Advisors Inc. now owns 129,869 shares of the transportation company's stock valued at $4,814,000 after acquiring an additional 5,123 shares during the period. Finally, Meiji Yasuda Life Insurance Co grew its stake in shares of CSX by 25.0% in the first quarter. Meiji Yasuda Life Insurance Co now owns 35,214 shares of the transportation company's stock worth $1,305,000 after acquiring an additional 7,048 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company's stock.

CSX Stock Up 2.3 %

NASDAQ CSX traded up $0.84 on Monday, reaching $36.62. The company had a trading volume of 5,037,810 shares, compared to its average volume of 11,660,653. The company's fifty day moving average is $34.48 and its 200-day moving average is $33.94. CSX Co. has a 1-year low of $31.65 and a 1-year high of $40.12. The firm has a market capitalization of $70.62 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39.

CSX (NASDAQ:CSX - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The firm's quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.42 earnings per share. On average, research analysts forecast that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Announces Dividend

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 paid 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 payout ratio is currently 25.81%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Susquehanna decreased their price objective on CSX from $42.00 to $40.00 and set a "positive" rating on the stock in a report on Thursday, October 17th. Barclays lifted their price objective on CSX from $40.00 to $41.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Citigroup boosted their price target on CSX from $42.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Wells Fargo & Company dropped their price objective on CSX from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Thursday, October 17th. Finally, Loop Capital dropped their target price on shares of CSX from $43.00 to $42.00 and set a "buy" rating for the company in a research report on Thursday, October 17th. Seven 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, CSX currently 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.