Caisse DE Depot ET Placement DU Quebec Makes New Investment in CSX Co. (NASDAQ:CSX)

Caisse DE Depot ET Placement DU Quebec bought a new position in shares of CSX Co. (NASDAQ:CSX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 413,000 shares of the transportation company’s stock, valued at approximately $14,261,000.

Other hedge funds have also recently modified their holdings of the company. Valley Wealth Managers Inc. increased its stake in shares of CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after purchasing an additional 480 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of CSX during the 2nd quarter worth approximately $26,000. MFA Wealth Advisors LLC purchased a new stake in shares of CSX during the 2nd quarter worth approximately $27,000. Fairscale Capital LLC purchased a new stake in shares of CSX during the 2nd quarter worth approximately $32,000. Finally, Morton Brown Family Wealth LLC purchased a new stake in shares of CSX during the 3rd quarter worth approximately $31,000. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

NASDAQ CSX opened at $36.55 on Monday. CSX Co. has a 52-week low of $31.72 and a 52-week high of $40.12. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The company has a market capitalization of $70.48 billion, a P/E ratio of 19.65, a P/E/G ratio of 2.32 and a beta of 1.19. The company has a fifty day moving average of $34.70 and a 200-day moving average of $34.03.

CSX (NASDAQ:CSX) last posted its quarterly earnings data 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). CSX had a return on equity of 28.92% and a net margin of 24.77%. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the prior year, the firm posted $0.42 earnings per share. The business’s revenue was up 1.3% on a year-over-year basis. As a group, equities research analysts predict that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio is currently 25.81%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CSX shares. Citigroup raised their price target on shares of CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Evercore ISI decreased their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Stephens reduced their price objective on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. BMO Capital Markets reduced their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.78.

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.