Toronto Dominion Bank raised its stake in shares of CSX Co. (NASDAQ:CSX - Free Report) by 64.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,051,028 shares of the transportation company's stock after purchasing an additional 413,826 shares during the quarter. Toronto Dominion Bank owned about 0.05% of CSX worth $36,292,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in CSX during the 2nd quarter worth approximately $26,000. Valley Wealth Managers Inc. lifted its position in CSX by 177.8% during 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 period. MFA Wealth Advisors LLC acquired a new position in CSX during the second quarter valued at $27,000. Morton Brown Family Wealth LLC acquired a new stake in CSX during the 3rd quarter worth about $31,000. Finally, Fairscale Capital LLC purchased a new position in shares of CSX during the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 73.57% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the company. TD Cowen reduced their price target on CSX from $36.00 to $35.00 and set a "hold" rating for the company in a report on Thursday, October 17th. Citigroup lifted their price target on shares of CSX from $42.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Stifel Nicolaus cut their price target on shares of CSX from $39.00 to $37.00 and set a "buy" rating for the company in a report on Thursday, October 17th. Evercore ISI decreased their price objective on shares of CSX from $38.00 to $37.00 and set an "outperform" rating on the stock in a report on Thursday, October 17th. Finally, Barclays boosted their target price on shares of 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $38.78.
Read Our Latest Stock Analysis on CSX
CSX Stock Performance
Shares of CSX stock traded up $0.07 during mid-day trading on Thursday, hitting $33.68. The stock had a trading volume of 9,620,662 shares, compared to its average volume of 11,648,740. The firm has a market cap of $64.95 billion, a PE ratio of 18.11, a PEG ratio of 2.19 and a beta of 1.20. The company's 50-day simple moving average is $34.81 and its 200-day simple moving average is $34.09. 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 fifty-two week low of $31.74 and a fifty-two week high of $40.12.
CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same period in the prior year, the company earned $0.42 EPS. The company's revenue was up 1.3% on a year-over-year basis. Sell-side analysts anticipate that CSX Co. will post 1.84 earnings per share for the current year.
CSX Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Friday, November 29th. CSX's dividend payout ratio is currently 25.81%.
About CSX
(
Free Report)
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.
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