Great Lakes Advisors LLC acquired a new stake in shares of CSX Co. (NASDAQ:CSX) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 10,616 shares of the transportation company’s stock, valued at approximately $786,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors increased its holdings in shares of CSX by 1,080.6% during the third quarter. Capital World Investors now owns 29,751,204 shares of the transportation company’s stock valued at $2,203,077,000 after acquiring an additional 27,231,204 shares in the last quarter. Janus Henderson Group PLC grew its holdings in CSX by 33.7% during the third quarter. Janus Henderson Group PLC now owns 12,600,194 shares of the transportation company’s stock worth $933,045,000 after buying an additional 3,178,806 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in CSX by 2.1% during the third quarter. Bank of New York Mellon Corp now owns 9,482,962 shares of the transportation company’s stock worth $702,214,000 after buying an additional 193,133 shares in the last quarter. Morgan Stanley grew its holdings in CSX by 38.8% during the third quarter. Morgan Stanley now owns 8,803,609 shares of the transportation company’s stock worth $651,908,000 after buying an additional 2,462,931 shares in the last quarter. Finally, Capital International Investors grew its holdings in CSX by 3.7% during the third quarter. Capital International Investors now owns 7,523,468 shares of the transportation company’s stock worth $557,113,000 after buying an additional 271,819 shares in the last quarter. Hedge funds and other institutional investors own 75.16% of the company’s stock.
Several equities research analysts recently issued reports on the company. Deutsche Bank upped their price target on CSX from $83.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, September 27th. Stifel Nicolaus set a $85.00 price target on CSX and gave the stock a “buy” rating in a report on Wednesday, October 17th. BidaskClub upgraded CSX from a “hold” rating to a “buy” rating in a report on Saturday, October 6th. Citigroup upped their price target on CSX from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, October 1st. Finally, Bank of America upped their price target on CSX from $77.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, October 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $77.90.
Shares of NASDAQ:CSX opened at $68.03 on Friday. The firm has a market capitalization of $58.96 billion, a price-to-earnings ratio of 29.58, a price-to-earnings-growth ratio of 1.37 and a beta of 1.27. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 1.00. CSX Co. has a 1 year low of $48.43 and a 1 year high of $76.24.
CSX (NASDAQ:CSX) last announced its quarterly earnings data on Tuesday, October 16th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.11. The firm had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.05 billion. CSX had a return on equity of 21.38% and a net margin of 55.19%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 EPS. On average, equities analysts forecast that CSX Co. will post 3.81 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.88 dividend on an annualized basis and a yield of 1.29%. CSX’s dividend payout ratio (DPR) is presently 38.26%.
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CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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