Busey Bank Purchases 328 Shares of CSX Co. (NASDAQ:CSX)

Busey Bank lifted its position in shares of CSX Co. (NASDAQ:CSX) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,920 shares of the transportation company’s stock after purchasing an additional 328 shares during the quarter. Busey Bank’s holdings in CSX were worth $1,033,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in shares of CSX by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock valued at $2,418,883,000 after purchasing an additional 443,755 shares in the last quarter. Bank of New York Mellon Corp increased its position in CSX by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock valued at $573,128,000 after buying an additional 1,060,204 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in CSX by 9.3% during the second quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock valued at $415,466,000 after buying an additional 1,060,617 shares during the last quarter. Bank of Montreal Can boosted its holdings in CSX by 38.7% in the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock worth $225,917,000 after acquiring an additional 1,884,998 shares in the last quarter. Finally, Interval Partners LP boosted its holdings in CSX by 849.0% in the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after acquiring an additional 4,579,344 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CSX shares. Citigroup started coverage on CSX in a research report on Wednesday, October 9th. They issued a “buy” rating and a $42.00 price target for the company. TD Cowen decreased their target price on shares of CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. BMO Capital Markets cut their price target on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Barclays decreased their price objective on shares of CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. Finally, Royal Bank of Canada cut their target price on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.61.

CSX Stock Down 1.5 %

Shares of CSX stock opened at $33.10 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12. The stock has a market cap of $64.71 billion, a P/E ratio of 18.19, a P/E/G ratio of 1.90 and a beta of 1.19. The company has a 50 day simple moving average of $34.04 and a two-hundred day simple moving average of $33.90.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter last year, the company earned $0.42 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, research analysts expect that CSX Co. will post 1.93 earnings per share for the current year.

CSX Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.45%. CSX’s payout ratio is currently 26.37%.

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.