Public Sector Pension Investment Board Increases Holdings in CSX Co. (NASDAQ:CSX)

Public Sector Pension Investment Board lifted its position in CSX Co. (NASDAQ:CSX) by 10.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,276 shares of the transportation company’s stock after buying an additional 7,700 shares during the period. Public Sector Pension Investment Board’s holdings in CSX were worth $2,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Fisher Asset Management LLC increased its holdings in CSX by 3.6% during the third quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock valued at $851,404,000 after buying an additional 857,302 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of CSX by 6.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock worth $573,128,000 after purchasing an additional 1,060,204 shares in the last quarter. FMR LLC raised its holdings in CSX by 10.2% in 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in CSX by 6.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,745,972 shares of the transportation company’s stock valued at $440,118,000 after purchasing an additional 737,221 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings 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 valued at $415,466,000 after purchasing an additional 1,060,617 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CSX. Benchmark reaffirmed a “buy” rating and issued a $40.00 price objective on shares of CSX in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Susquehanna cut their price target on CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Thursday, October 17th. Stifel Nicolaus dropped their price objective on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Finally, TD Cowen decreased their target price on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and a consensus target price of $38.78.

CSX Price Performance

CSX stock opened at $36.00 on Wednesday. CSX Co. has a 52-week low of $31.74 and a 52-week high of $40.12. The company has a market cap of $69.42 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 2.31 and a beta of 1.20. The firm’s fifty day moving average is $34.79 and its 200 day moving average is $34.06. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the previous year, the business posted $0.42 EPS. The firm’s revenue was up 1.3% on a year-over-year basis. Sell-side analysts forecast that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Announces Dividend

The business also recently announced 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio (DPR) is 25.81%.

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.