Bank of Montreal Can Buys 1,884,998 Shares of CSX Co. (NASDAQ:CSX)

Bank of Montreal Can increased its stake in shares of CSX Co. (NASDAQ:CSX) by 38.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 6,749,827 shares of the transportation company’s stock after purchasing an additional 1,884,998 shares during the quarter. Bank of Montreal Can’s holdings in CSX were worth $225,917,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Banque Cantonale Vaudoise grew its position in shares of CSX by 149.1% in the 2nd quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock worth $575,000 after buying an additional 10,301 shares during the last quarter. Ascent Group LLC grew its position in shares of CSX by 559.7% in the 1st quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock worth $2,179,000 after buying an additional 49,869 shares during the last quarter. PFG Advisors grew its position in shares of CSX by 2.1% in the 1st quarter. PFG Advisors now owns 18,880 shares of the transportation company’s stock worth $700,000 after buying an additional 387 shares during the last quarter. Partners Group Holding AG grew its position in shares of CSX by 26.8% in the 4th quarter. Partners Group Holding AG now owns 704,544 shares of the transportation company’s stock worth $24,427,000 after buying an additional 149,105 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its position in shares of CSX by 718.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 287,062 shares of the transportation company’s stock worth $9,952,000 after buying an additional 252,006 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CSX shares. Susquehanna lifted their price target on CSX from $40.00 to $41.00 and gave the company a “positive” rating in a research report on Wednesday, August 7th. Royal Bank of Canada restated a “sector perform” rating and set a $36.00 price target on shares of CSX in a research report on Tuesday, August 6th. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research report on Monday, July 8th. BMO Capital Markets restated an “outperform” rating and set a $40.00 price target on shares of CSX in a research report on Tuesday, August 6th. Finally, Evercore ISI upgraded CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and an average price target of $38.80.

CSX Stock Down 2.6 %

CSX stock opened at $34.02 on Tuesday. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The business has a fifty day moving average price of $34.01 and a 200-day moving average price of $34.31. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The stock has a market capitalization of $66.51 billion, a P/E ratio of 18.69, a P/E/G ratio of 1.77 and a beta of 1.19.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the previous year, the business earned $0.49 earnings per share. The company’s revenue was up .0% on a year-over-year basis. Equities analysts forecast that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Friday, August 30th. CSX’s dividend payout ratio (DPR) is presently 26.37%.

CSX Company 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.