CSX Corporation $CSX Stock: Fisher Asset Management LLC Boosts Holdings

Fisher Asset Management LLC increased its stake in shares of CSX Corporation (NASDAQ:CSX) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,364,986 shares of the transportation company’s stock after purchasing an additional 322,350 shares during the quarter. Fisher Asset Management LLC owned approximately 1.54% of CSX worth $1,319,256,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Warburton Capital Management LLC lifted its stake in CSX by 3.7% in the 3rd quarter. Warburton Capital Management LLC now owns 7,119 shares of the transportation company’s stock valued at $361,000 after purchasing an additional 251 shares during the last quarter. Eurizon Capital SGR S.p.A. grew its stake in shares of CSX by 13.0% during the third quarter. Eurizon Capital SGR S.p.A. now owns 337,961 shares of the transportation company’s stock worth $15,743,000 after buying an additional 38,889 shares during the last quarter. CENTRAL TRUST Co grew its stake in shares of CSX by 28.3% during the third quarter. CENTRAL TRUST Co now owns 16,634 shares of the transportation company’s stock worth $774,000 after buying an additional 3,665 shares during the last quarter. Maryland State Retirement & Pension System grew its stake in shares of CSX by 15.1% during the third quarter. Maryland State Retirement & Pension System now owns 114,982 shares of the transportation company’s stock worth $5,348,000 after buying an additional 15,048 shares during the last quarter. Finally, Ritholtz Wealth Management increased its holdings in shares of CSX by 1.6% during the third quarter. Ritholtz Wealth Management now owns 101,551 shares of the transportation company’s stock worth $4,723,000 after buying an additional 1,568 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CSX. TD Cowen reiterated a “buy” rating and issued a $55.00 price target (up from $54.00) on shares of CSX in a research note on Thursday, October 22nd. Susquehanna boosted their price objective on CSX from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Tuesday, October 27th. JPMorgan Chase & Co. boosted their price objective on CSX from $57.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, October 22nd. Wall Street Zen cut CSX from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Raymond James Financial set a $55.00 target price on CSX in a research report on Friday, October 23rd. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.20.

CSX Price Performance

CSX stock opened at $52.40 on Friday. The company has a fifty day moving average price of $48.92 and a 200-day moving average price of $46.18. The company has a market capitalization of $96.59 billion, a P/E ratio of 26.89, a PEG ratio of 2.27 and a beta of 1.12. CSX Corporation has a 52-week low of $33.63 and a 52-week high of $53.60. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.75 and a current ratio of 0.84.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, October 21st. The transportation company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. CSX had a net margin of 23.97% and a return on equity of 25.94%. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the previous year, the business earned $0.44 earnings per share. CSX’s revenue was up 12.0% compared to the same quarter last year. As a group, equities analysts expect that CSX Corporation will post 2.06 EPS for the current year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, November 30th. CSX’s dividend payout ratio (DPR) is currently 29.02%.

Insider Transactions at CSX

In other CSX news, Director John Zillmer sold 19,500 shares of CSX stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $51.24, for a total transaction of $999,180.00. Following the transaction, the director directly owned 334,214 shares of the company’s stock, valued at approximately $17,125,125.36. The trade was a 5.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is currently owned by corporate insiders.

CSX Company Profile

CSX Corporation is a freight transportation company that operates one of the largest rail networks in the eastern United States. Its rail system serves customers across much of the eastern U.S., as well as parts of Canada, and connects with other railroads and ports. CSX transports a broad range of goods, including chemicals, agricultural and food products, automobiles, minerals, forest products, coal and intermodal freight. Its services include rail transportation, intermodal shipping that combines rail and truck transport, and related logistics and supply-chain services.