Caisse DE Depot ET Placement DU Quebec Makes New $14.26 Million Investment in CSX Co. (NASDAQ:CSX)

Caisse DE Depot ET Placement DU Quebec purchased a new position in CSX Co. (NASDAQ:CSX) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 413,000 shares of the transportation company’s stock, valued at approximately $14,261,000.

Several other hedge funds have also added to or reduced their stakes in CSX. Avior Wealth Management LLC raised its stake in shares of CSX by 2.5% during the third quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock valued at $407,000 after acquiring an additional 293 shares during the last quarter. Western Wealth Management LLC raised its stake in shares of CSX by 0.8% during the second quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock valued at $1,208,000 after acquiring an additional 295 shares during the last quarter. TriaGen Wealth Management LLC raised its stake in shares of CSX by 2.7% during the second quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock valued at $385,000 after acquiring an additional 300 shares during the last quarter. Lake Street Advisors Group LLC raised its stake in shares of CSX by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock valued at $595,000 after acquiring an additional 306 shares during the last quarter. Finally, J.W. Cole Advisors Inc. raised its stake in shares of CSX by 0.9% during the third quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock valued at $1,222,000 after acquiring an additional 309 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Stephens reduced their price target on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Citigroup boosted their price target on shares of CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Susquehanna reduced their price target on shares of CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research report on Thursday, October 17th. Evercore ISI reduced their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, Royal Bank of Canada reduced 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 report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and a consensus price target of $38.78.

CSX Trading Up 0.2 %

Shares of NASDAQ CSX opened at $36.55 on Monday. The firm’s 50 day moving average price is $34.70 and its 200-day moving average price is $34.03. The company has a market cap of $70.48 billion, a PE ratio of 19.65, a P/E/G ratio of 2.32 and a beta of 1.19. CSX Co. has a 52-week low of $31.72 and a 52-week high of $40.12. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39.

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

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.31%. CSX’s dividend payout ratio is presently 25.81%.

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.