Charles Schwab Investment Management Inc. Purchases 51,597 Shares of CSX Co. (NASDAQ:CSX)

Charles Schwab Investment Management Inc. grew its position in CSX Co. (NASDAQ:CSX) by 0.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,592,143 shares of the transportation company’s stock after acquiring an additional 51,597 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.60% of CSX worth $400,277,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Banque Cantonale Vaudoise raised its position in CSX by 149.1% in the second quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock worth $575,000 after purchasing an additional 10,301 shares in the last quarter. Ascent Group LLC raised its holdings in shares of CSX by 559.7% in the 1st quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock worth $2,179,000 after buying an additional 49,869 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of CSX by 20.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock worth $16,139,000 after buying an additional 80,423 shares during the period. Thrivent Financial for Lutherans boosted its stake in CSX by 0.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock valued at $116,521,000 after buying an additional 24,430 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in CSX by 3.4% in the third quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company’s stock valued at $81,095,000 after acquiring an additional 77,488 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Up 1.2 %

NASDAQ:CSX opened at $35.78 on Friday. The stock has a 50-day moving average price of $34.48 and a two-hundred day moving average price of $33.94. CSX Co. has a 1 year low of $31.65 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 stock has a market cap of $69.00 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 2.20 and a beta of 1.19.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter last year, the company earned $0.42 EPS. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, equities analysts expect 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. Stockholders of record on Friday, November 29th will be issued a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.34%. CSX’s dividend payout ratio (DPR) is 25.81%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CSX shares. Evercore ISI reduced their target price on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Barclays lifted their target price on shares of CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Citigroup increased their price target on CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Loop Capital reduced their price objective on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Finally, TD Cowen reduced their price target on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $38.78.

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.