CSX Co. (NASDAQ:CSX) Shares Acquired by Cohen Capital Management Inc.

Cohen Capital Management Inc. increased its position in shares of CSX Co. (NASDAQ:CSX) by 0.3% during the third quarter, Holdings Channel reports. The fund owned 278,908 shares of the transportation company’s stock after acquiring an additional 700 shares during the quarter. CSX makes up approximately 1.6% of Cohen Capital Management Inc.’s investment portfolio, making the stock its 21st biggest position. Cohen Capital Management Inc.’s holdings in CSX were worth $9,631,000 at the end of the most recent reporting period.

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

CSX Stock Performance

CSX stock opened at $33.48 on Monday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The firm’s fifty day moving average price is $34.01 and its 200 day moving average price is $33.79. The company has a market capitalization of $64.56 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. CSX Co. has a 12-month low of $30.00 and a 12-month high of $40.12.

CSX (NASDAQ:CSX) last released its quarterly 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). CSX had a return on equity of 28.92% and a net margin of 24.77%. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter last year, the firm posted $0.42 EPS. The company’s revenue was up 1.3% compared to the same quarter last year. On average, research analysts forecast that CSX Co. will post 1.86 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently declared 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s payout ratio is currently 25.81%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CSX shares. Wells Fargo & Company cut their price objective on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Royal Bank of Canada cut their price target on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. Evercore ISI lowered their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Loop Capital cut their target price on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Finally, TD Cowen lowered their price target on CSX from $36.00 to $35.00 and set a “hold” rating for the company 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.