Assenagon Asset Management S.A. Grows Stock Position in CSX Co. (NASDAQ:CSX)

Assenagon Asset Management S.A. raised its holdings in CSX Co. (NASDAQ:CSX) by 318.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,270,966 shares of the transportation company’s stock after acquiring an additional 2,489,329 shares during the quarter. Assenagon Asset Management S.A.’s holdings in CSX were worth $112,946,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC raised its stake in shares of CSX by 10.1% in the first quarter. Dynamic Advisor Solutions LLC now owns 35,503 shares of the transportation company’s stock worth $1,316,000 after purchasing an additional 3,257 shares during the last quarter. Kingswood Wealth Advisors LLC raised its stake in shares of CSX by 85.0% in the first quarter. Kingswood Wealth Advisors LLC now owns 13,604 shares of the transportation company’s stock worth $504,000 after purchasing an additional 6,251 shares during the last quarter. Brookstone Capital Management raised its stake in shares of CSX by 15.6% in the first quarter. Brookstone Capital Management now owns 27,113 shares of the transportation company’s stock worth $1,005,000 after purchasing an additional 3,662 shares during the last quarter. Wealthcare Advisory Partners LLC raised its stake in shares of CSX by 24.7% in the first quarter. Wealthcare Advisory Partners LLC now owns 26,008 shares of the transportation company’s stock worth $964,000 after purchasing an additional 5,155 shares during the last quarter. Finally, Harbor Group Inc. raised its stake in shares of CSX by 50.6% in the first quarter. Harbor Group Inc. now owns 17,956 shares of the transportation company’s stock worth $666,000 after purchasing an additional 6,035 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Trading Down 1.9 %

NASDAQ CSX traded down $0.65 on Thursday, reaching $32.94. 6,338,929 shares of the company were exchanged, compared to its average volume of 11,597,106. The business’s fifty day moving average price is $34.04 and its 200 day moving average price is $33.90. The stock has a market capitalization of $64.40 billion, a P/E ratio of 18.46, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. 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 fifty-two week low of $29.03 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX) last released its quarterly earnings data 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). CSX had a return on equity of 29.11% and a net margin of 24.52%. The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same period last year, the firm posted $0.42 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. Analysts forecast that CSX Co. will post 1.93 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.46%. CSX’s dividend payout ratio is currently 26.37%.

Analyst Upgrades and Downgrades

CSX has been the subject of several research analyst reports. TD Cowen reduced their price objective on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Susquehanna reduced their price objective on CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Thursday, October 17th. Benchmark reiterated a “buy” rating and set a $40.00 price target on shares of CSX in a research report on Wednesday, August 7th. Stifel Nicolaus reduced their price target on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Finally, Sanford C. Bernstein lifted their price target on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.61.

About CSX

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.