CSX Co. (NASDAQ:CSX) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its stake in CSX Co. (NASDAQ:CSX) by 3.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,015,840 shares of the transportation company’s stock after purchasing an additional 38,559 shares during the period. Handelsbanken Fonder AB’s holdings in CSX were worth $35,077,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. increased its position in CSX by 1.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 2,503,238 shares of the transportation company’s stock worth $86,787,000 after buying an additional 42,941 shares during the period. Morningstar Investment Services LLC acquired a new position in shares of CSX in the 4th quarter valued at $347,000. Schroder Investment Management Group raised its position in CSX by 18.9% in the 4th quarter. Schroder Investment Management Group now owns 803,982 shares of the transportation company’s stock valued at $27,874,000 after purchasing an additional 128,032 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in CSX during the 4th quarter worth $57,000. Finally, Evercore Wealth Management LLC grew its position in CSX by 8.2% during the 4th quarter. Evercore Wealth Management LLC now owns 15,662 shares of the transportation company’s stock worth $543,000 after purchasing an additional 1,191 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 brokerages have recently commented on CSX. Sanford C. Bernstein upped their target price on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $36.00 price objective on shares of CSX in a research report on Tuesday, August 6th. Susquehanna boosted their target price on CSX from $41.00 to $42.00 and gave the company a “positive” rating in a report on Wednesday. Bank of America downgraded CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Monday, July 8th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $40.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.00.

CSX Price Performance

CSX stock traded up $0.37 during trading on Friday, reaching $34.49. 10,243,425 shares of the company were exchanged, compared to its average volume of 11,546,590. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. The company has a market cap of $67.43 billion, a P/E ratio of 18.95, a PEG ratio of 1.91 and a beta of 1.19. The stock’s 50 day moving average price is $33.97 and its 200 day moving average price is $34.13.

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

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 26.37%.

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.