CSX Co. (NASDAQ:CSX) Shares Acquired by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. grew its stake in CSX Co. (NASDAQ:CSX) by 174.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,670 shares of the transportation company’s stock after acquiring an additional 27,736 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in CSX were worth $1,508,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Point72 Hong Kong Ltd acquired a new stake in shares of CSX in the 3rd quarter worth $1,059,000. FSA Wealth Management LLC acquired a new stake in shares of CSX during the 3rd quarter worth about $43,000. B&L Asset Management LLC acquired a new stake in shares of CSX during the 3rd quarter worth about $264,000. Erste Asset Management GmbH acquired a new stake in shares of CSX during the 3rd quarter worth about $2,204,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of CSX during the 3rd quarter worth about $14,261,000. 73.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CSX. Evercore ISI cut their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. TD Cowen cut their price objective on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised their price objective on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Barclays raised their price objective on CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, BMO Capital Markets dropped their target price on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.78.

CSX Stock Performance

Shares of CSX opened at $36.55 on Monday. The stock has a 50-day simple moving average of $34.70 and a 200-day simple moving average of $34.03. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The stock has a market capitalization of $70.48 billion, a PE ratio of 19.65, a PEG ratio of 2.32 and a beta of 1.19. CSX Co. has a 1 year low of $31.72 and a 1 year high of $40.12.

CSX (NASDAQ:CSX) last posted its 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). The business had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. CSX’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. On average, analysts predict that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 yield of 1.31%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s payout ratio is 25.81%.

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.