CSX Co. (NASDAQ:CSX) Stock Position Raised by Bangor Savings Bank

Bangor Savings Bank lifted its position in CSX Co. (NASDAQ:CSX) by 22.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,605 shares of the transportation company’s stock after acquiring an additional 2,314 shares during the quarter. Bangor Savings Bank’s holdings in CSX were worth $435,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of CSX by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock valued at $2,418,883,000 after acquiring an additional 443,755 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of CSX by 2.0% in the 4th quarter. Fisher Asset Management LLC now owns 22,340,864 shares of the transportation company’s stock valued at $774,558,000 after acquiring an additional 433,228 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of CSX by 6.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock valued at $573,128,000 after acquiring an additional 1,060,204 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in CSX by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock worth $415,466,000 after buying an additional 1,060,617 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in CSX by 38.7% in the 2nd quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock worth $225,917,000 after buying an additional 1,884,998 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

NASDAQ:CSX opened at $33.87 on Wednesday. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The firm’s fifty day simple moving average is $33.96 and its 200 day simple moving average is $34.07. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $66.21 billion, a PE ratio of 18.61, a PEG ratio of 1.91 and a beta of 1.19.

CSX (NASDAQ:CSX) last posted its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. CSX had a net margin of 24.52% and a return on equity of 29.11%. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period last year, the business posted $0.49 EPS. CSX’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 EPS for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. CSX’s payout ratio is presently 26.37%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CSX. Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Monday, July 8th. JPMorgan Chase & Co. increased their target price on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of CSX in a research report on Wednesday, August 7th. Sanford C. Bernstein increased their target price on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $36.00 target price on shares of CSX in a research report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

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.