Mirae Asset Global Investments Co. Ltd. Acquires 80,423 Shares of CSX Co. (NASDAQ:CSX)

Mirae Asset Global Investments Co. Ltd. grew its position in CSX Co. (NASDAQ:CSX - Free Report) by 20.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 467,399 shares of the transportation company's stock after acquiring an additional 80,423 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in CSX were worth $16,139,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CSX. Interval Partners LP lifted its position in shares of CSX by 849.0% during the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company's stock worth $171,222,000 after buying an additional 4,579,344 shares during the period. Manning & Napier Advisors LLC bought a new position in shares of CSX during the 2nd quarter worth approximately $116,430,000. M&G Plc bought a new position in shares of CSX during the 1st quarter worth approximately $126,089,000. Assenagon Asset Management S.A. lifted its position in shares of CSX by 318.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company's stock worth $112,946,000 after buying an additional 2,489,329 shares during the period. Finally, Wulff Hansen & CO. increased its holdings in CSX by 3,243.0% during the 2nd quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company's stock valued at $73,331,000 after purchasing an additional 2,126,668 shares in the last quarter. Institutional investors own 73.57% of the company's stock.

CSX Trading Up 0.5 %

Shares of CSX stock traded up $0.17 during trading on Friday, reaching $33.27. 14,067,075 shares of the company were exchanged, compared to its average volume of 11,651,126. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The business has a 50-day moving average price of $34.03 and a 200-day moving average price of $33.85. The firm has a market capitalization of $65.04 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 1.90 and a beta of 1.19.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.02). CSX had a return on equity of 29.11% and a net margin of 24.52%. The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same period last year, the firm earned $0.42 earnings per share. The firm's revenue for the quarter was up 1.3% on a year-over-year basis. Sell-side analysts anticipate that CSX Co. will post 1.93 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 dividend on an annualized basis and a dividend yield of 1.44%. CSX's dividend payout ratio (DPR) is presently 26.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CSX shares. Susquehanna dropped their price target on CSX from $42.00 to $40.00 and set a "positive" rating for the company in a report on Thursday, October 17th. Sanford C. Bernstein raised their price target on CSX from $35.00 to $36.00 and gave the company a "market perform" rating in a report on Monday, July 8th. JPMorgan Chase & Co. raised their price target on CSX from $39.00 to $42.00 and gave the company an "overweight" rating in a report on Tuesday, August 6th. Royal Bank of Canada dropped their price target on CSX from $36.00 to $35.00 and set a "sector perform" rating for the company in a report on Thursday, October 17th. Finally, Loop Capital dropped their price target on CSX from $43.00 to $42.00 and set a "buy" rating for the company in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, CSX presently has an average rating of "Moderate Buy" and a consensus price target of $38.61.

CSX 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.