CSX Co. (NASDAQ:CSX) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its position in CSX Co. (NASDAQ:CSX) by 30.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,043,833 shares of the transportation company’s stock after acquiring an additional 707,814 shares during the period. Canada Pension Plan Investment Board owned about 0.16% of CSX worth $101,816,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Financial Synergies Wealth Advisors Inc. acquired a new stake in CSX in the 1st quarter valued at $29,000. MFA Wealth Advisors LLC purchased a new stake in shares of CSX during the second quarter worth about $27,000. Valued Wealth Advisors LLC raised its position in shares of CSX by 172.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock worth $35,000 after purchasing an additional 594 shares during the last quarter. Burkett Financial Services LLC purchased a new position in CSX in the 4th quarter valued at about $34,000. Finally, Tortoise Investment Management LLC acquired a new stake in CSX in the 4th quarter worth about $35,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CSX shares. Bank of America downgraded CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Monday, July 8th. BMO Capital Markets reaffirmed an “outperform” rating and set a $40.00 target price on shares of CSX in a report on Tuesday, August 6th. 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. Sanford C. Bernstein upped their price objective on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. Finally, Susquehanna raised their target price on shares of CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a research note on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and an average target price of $38.80.

CSX Trading Up 0.4 %

Shares of CSX stock opened at $34.93 on Friday. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The firm has a market cap of $68.29 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19. The company has a 50-day moving average of $34.02 and a two-hundred day moving average of $34.39. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01.

CSX (NASDAQ:CSX) last posted its quarterly earnings data 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 firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the company posted $0.49 EPS. On average, analysts predict that CSX Co. will post 1.93 EPS for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Friday, August 30th. CSX’s payout ratio is 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.