Weiss Asset Management LP Makes New Investment in CSX Co. (NASDAQ:CSX)

Weiss Asset Management LP purchased a new position in CSX Co. (NASDAQ:CSX - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 46,079 shares of the transportation company's stock, valued at approximately $1,591,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new position in CSX during the second quarter valued at about $26,000. Valley Wealth Managers Inc. grew its holdings in shares of CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company's stock worth $26,000 after purchasing an additional 480 shares in the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of CSX during the second quarter valued at approximately $27,000. Morton Brown Family Wealth LLC acquired a new position in shares of CSX in the third quarter valued at $31,000. Finally, Fairscale Capital LLC bought a new position in CSX in the second quarter worth $32,000. Institutional investors own 73.57% of the company's stock.

Analyst Upgrades and Downgrades

CSX has been the topic of several analyst reports. Royal Bank of Canada lowered their price target on shares of CSX from $36.00 to $35.00 and set a "sector perform" rating on the stock in a report on Thursday, October 17th. Evercore ISI dropped their price target on shares of CSX from $38.00 to $37.00 and set an "outperform" rating for the company in a research report on Thursday, October 17th. 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. Stephens dropped their target price on CSX from $41.00 to $39.00 and set an "overweight" rating for the company in a report on Thursday, October 17th. Finally, Loop Capital cut their target price on CSX from $43.00 to $42.00 and set a "buy" rating for the company in a research report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $38.78.

CSX Price Performance

Shares of CSX stock traded down $0.17 during midday trading on Friday, reaching $34.45. The company had a trading volume of 10,491,927 shares, compared to its average volume of 10,738,611. The stock has a fifty day simple moving average of $34.84 and a 200 day simple moving average of $34.09. CSX Co. has a 1-year low of $31.74 and a 1-year high of $40.12. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $66.43 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 2.24 and a beta of 1.20.

CSX (NASDAQ:CSX - Get Free Report) last released its earnings results 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). The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The company's revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. As a group, equities research analysts forecast that CSX Co. will post 1.84 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Friday, November 29th. CSX's dividend payout ratio is 25.81%.

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.