Fmr LLC Has $539.11 Million Stock Holdings in CSX Co. (NASDAQ:CSX)

Fmr LLC boosted its holdings in CSX Co. (NASDAQ:CSX) by 10.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,612,862 shares of the transportation company’s stock after acquiring an additional 1,447,651 shares during the period. Fmr LLC’s holdings in CSX were worth $539,112,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of CSX. Advisors Asset Management Inc. boosted its holdings in shares of CSX by 581.7% in the 1st quarter. Advisors Asset Management Inc. now owns 5,283 shares of the transportation company’s stock valued at $196,000 after purchasing an additional 4,508 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of CSX during the 1st quarter worth $431,000. Cetera Investment Advisers boosted its stake in CSX by 239.9% in the first quarter. Cetera Investment Advisers now owns 361,668 shares of the transportation company’s stock valued at $13,407,000 after buying an additional 255,271 shares in the last quarter. Cetera Advisors LLC grew its position in CSX by 59.1% in the first quarter. Cetera Advisors LLC now owns 108,265 shares of the transportation company’s stock valued at $4,013,000 after acquiring an additional 40,201 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in CSX by 33.5% in the first quarter. EverSource Wealth Advisors LLC now owns 10,431 shares of the transportation company’s stock valued at $387,000 after acquiring an additional 2,619 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CSX. Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of CSX in a report on Wednesday, August 7th. Stephens cut their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Susquehanna decreased 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. Stifel Nicolaus dropped their price target on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Finally, Royal Bank of Canada reduced their price objective on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.78.

CSX Stock Down 0.1 %

Shares of NASDAQ CSX opened at $36.55 on Friday. The company’s 50 day moving average price is $34.70 and its 200-day moving average price is $34.02. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. CSX Co. has a 52-week low of $31.72 and a 52-week high of $40.12. The company has a market capitalization of $70.48 billion, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 2.32 and a beta of 1.19.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the previous year, the firm earned $0.42 EPS. CSX’s quarterly revenue was up 1.3% on a year-over-year basis. Equities analysts forecast that CSX Co. will post 1.84 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.31%. CSX’s payout ratio is 25.81%.

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.