Lombard Odier Asset Management Europe Ltd Grows Stake in CSX Co. (NASDAQ:CSX)

Lombard Odier Asset Management Europe Ltd lifted its stake in CSX Co. (NASDAQ:CSX) by 110.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,594 shares of the transportation company’s stock after purchasing an additional 52,750 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in CSX were worth $3,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of CSX. Price T Rowe Associates Inc. MD grew its holdings in shares of CSX by 18.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock valued at $2,246,893,000 after buying an additional 9,914,656 shares during the last quarter. Capital International Investors raised its stake in shares of CSX by 14.3% in the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after purchasing an additional 5,041,679 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of CSX during the second quarter valued at $116,430,000. M&G Plc bought a new stake in CSX in the 1st quarter worth about $126,089,000. Finally, Wulff Hansen & CO. raised its position in CSX by 3,243.0% in the 2nd quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock worth $73,331,000 after buying an additional 2,126,668 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Up 0.4 %

CSX stock opened at $34.93 on Monday. The business’s 50-day moving average price is $34.02 and its 200-day moving average price is $34.34. The stock has a market cap of $68.29 billion, a P/E ratio of 19.19, a PEG ratio of 1.77 and a beta of 1.19. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12.

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

CSX Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Friday, August 30th. CSX’s payout ratio is presently 26.37%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CSX. Benchmark reaffirmed a “buy” rating and set a $40.00 price target on shares of CSX in a report on Wednesday, August 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $36.00 target price on shares of CSX in a research report on Tuesday, August 6th. Stephens reissued an “overweight” rating and set a $42.00 price target on shares of CSX in a report on Tuesday, August 6th. Wells Fargo & Company began coverage on CSX in a research note on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price target on the stock. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $40.00 price objective on shares of CSX in a research report on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.80.

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.