IFM Investors Pty Ltd Increases Stock Holdings in CSX Co. (NASDAQ:CSX)

IFM Investors Pty Ltd grew its position in CSX Co. (NASDAQ:CSX) by 19.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 576,247 shares of the transportation company’s stock after acquiring an additional 93,352 shares during the quarter. IFM Investors Pty Ltd’s holdings in CSX were worth $19,898,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Patrick M Sweeney & Associates Inc. lifted its holdings in shares of CSX by 5.6% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 31,514 shares of the transportation company’s stock valued at $1,088,000 after buying an additional 1,684 shares during the period. International Assets Investment Management LLC purchased a new stake in CSX in the 3rd quarter valued at approximately $5,767,000. Commerzbank Aktiengesellschaft FI boosted its stake in shares of CSX by 45.1% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 60,637 shares of the transportation company’s stock valued at $2,094,000 after acquiring an additional 18,849 shares during the last quarter. Community Trust & Investment Co. raised its holdings in CSX by 7.7% in the 3rd quarter. Community Trust & Investment Co. now owns 29,454 shares of the transportation company’s stock valued at $1,017,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Leo Wealth LLC increased its stake in shares of CSX by 17.2% during the 3rd quarter. Leo Wealth LLC now owns 24,998 shares of the transportation company’s stock valued at $863,000 after acquiring an additional 3,665 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CSX shares. Loop Capital lowered their price target on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Sanford C. Bernstein lifted their price target on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Susquehanna cut their target price on shares of CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research note on Thursday, October 17th. Citigroup initiated coverage on shares of CSX in a research report on Wednesday, October 9th. They set a “buy” rating and a $42.00 price target for the company. Finally, Stephens reduced their price objective on CSX from $41.00 to $39.00 and set an “overweight” 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 issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.61.

CSX Trading Down 1.9 %

Shares of CSX stock traded down $0.65 during trading hours on Thursday, reaching $32.94. 6,338,929 shares of the stock traded hands, compared to its average volume of 11,597,106. The business has a fifty day moving average price of $34.04 and a 200 day moving average price of $33.90. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $64.40 billion, a PE ratio of 18.46, a PEG ratio of 1.90 and a beta of 1.19.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. CSX’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the company earned $0.42 earnings per share. On average, equities research analysts forecast that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.46%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is currently 26.37%.

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.