Sumitomo Mitsui Asset Management Company LTD lowered its position in shares of CSX Co. (NASDAQ:CSX) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,705 shares of the transportation company’s stock after selling 909 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in CSX were worth $4,347,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Acropolis Investment Management LLC purchased a new position in CSX during the third quarter valued at $107,000. IMS Capital Management purchased a new position in CSX during the second quarter valued at $124,000. Strategic Wealth Partners Ltd. purchased a new position in CSX during the second quarter valued at $128,000. Kaizen Advisory LLC increased its holdings in shares of CSX by 150.5% during the second quarter. Kaizen Advisory LLC now owns 2,164 shares of the transportation company’s stock valued at $138,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Sun Life Financial INC increased its holdings in shares of CSX by 950.0% during the second quarter. Sun Life Financial INC now owns 2,373 shares of the transportation company’s stock valued at $151,000 after acquiring an additional 2,147 shares in the last quarter. 76.20% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently weighed in on CSX. Bank of America raised their price target on CSX from $77.00 to $82.00 and gave the company a “buy” rating in a report on Monday, October 1st. Citigroup raised their price target on CSX from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, October 1st. BMO Capital Markets downgraded CSX from an “outperform” rating to a “market perform” rating and set a $65.00 price target for the company. in a report on Wednesday, September 5th. They noted that the move was a valuation call. Stephens restated a “buy” rating and set a $85.00 price target on shares of CSX in a report on Tuesday, October 9th. Finally, Morgan Stanley raised their price target on CSX from $52.00 to $55.00 and gave the company a “sell” rating in a report on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $77.60.
CSX (NASDAQ:CSX) last released its quarterly earnings data on Tuesday, October 16th. The transportation company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.94 by $0.11. CSX had a return on equity of 21.38% and a net margin of 55.19%. The company had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period last year, the company earned $0.51 EPS. CSX’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities analysts predict that CSX Co. will post 3.8 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.25%. CSX’s dividend payout ratio is currently 38.26%.
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CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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