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

Handelsbanken Fonder AB increased its position in shares of CSX Co. (NASDAQ:CSX) by 3.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,015,840 shares of the transportation company’s stock after purchasing an additional 38,559 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.05% of CSX worth $35,077,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in CSX in the 2nd quarter worth approximately $26,000. MFA Wealth Advisors LLC acquired a new stake in shares of CSX in the second quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. purchased a new position in CSX during the first quarter worth approximately $29,000. Fairscale Capital LLC acquired a new position in CSX during the second quarter worth $32,000. Finally, Strategic Financial Concepts LLC purchased a new stake in CSX in the 2nd quarter valued at $33,000. 73.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CSX. Bank of America cut shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research report on Monday, July 8th. Evercore ISI upgraded shares of CSX to a “strong-buy” rating in a report on Tuesday, August 6th. Susquehanna upped their price objective on CSX from $41.00 to $42.00 and gave the company a “positive” rating in a report on Wednesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $36.00 price objective on shares of CSX in a research report on Tuesday, August 6th. Finally, Benchmark restated a “buy” rating and issued a $40.00 target price on shares of CSX in a research report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

CSX Stock Up 1.1 %

Shares of CSX traded up $0.37 during mid-day trading on Friday, hitting $34.49. 10,243,425 shares of the company’s stock were exchanged, compared to its average volume of 11,546,590. 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 price-to-earnings ratio of 18.95, a P/E/G ratio of 1.91 and a beta of 1.19. The stock’s 50-day moving average is $33.97 and its 200-day moving average is $34.13. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. CSX had a net margin of 24.52% and a return on equity of 29.11%. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter last year, the company posted $0.49 EPS. The firm’s revenue was up .0% compared to the same quarter last year. On average, sell-side analysts anticipate that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Dividend Announcement

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

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.