CSX Co. (NASDAQ:CSX) Shares Bought by State Street Corp

State Street Corp grew its stake in shares of CSX Co. (NASDAQ:CSX) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,250,713 shares of the transportation company’s stock after acquiring an additional 455,258 shares during the quarter. State Street Corp owned about 4.27% of CSX worth $2,840,117,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CSX. Interval Partners LP increased its stake 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 valued at $171,222,000 after acquiring an additional 4,579,344 shares during the last quarter. Assenagon Asset Management S.A. increased its position in 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 purchasing an additional 2,489,329 shares in the last quarter. Wulff Hansen & CO. increased its position 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 worth $73,331,000 after purchasing an additional 2,126,668 shares in the last quarter. Bank of Montreal Can increased its position in CSX by 38.7% during the 2nd quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock worth $225,917,000 after purchasing an additional 1,884,998 shares in the last quarter. Finally, FMR LLC increased its position in CSX by 10.2% during the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after purchasing an additional 1,447,651 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CSX. Stephens dropped their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. BMO Capital Markets dropped their target price on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Wells Fargo & Company dropped their target price on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Royal Bank of Canada dropped their target price on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Finally, Susquehanna dropped their target price on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.78.

CSX Stock Performance

CSX stock opened at $34.62 on Friday. The stock has a market cap of $66.76 billion, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 2.28 and a beta of 1.20. 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 stock has a 50 day moving average of $34.84 and a 200-day moving average of $34.07. CSX Co. has a 52 week low of $31.74 and a 52 week high of $40.12.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 earnings per share. On average, analysts expect that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid 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 (DPR) is currently 25.81%.

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.