Envestnet Asset Management Inc. Increases Stock Holdings in CSX Co. (NASDAQ:CSX)

Envestnet Asset Management Inc. grew its stake in CSX Co. (NASDAQ:CSX) by 2.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,603,301 shares of the transportation company’s stock after purchasing an additional 59,033 shares during the quarter. Envestnet Asset Management Inc. owned about 0.13% of CSX worth $87,080,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CSX. Price T Rowe Associates Inc. MD grew its stake in CSX by 18.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock worth $2,246,893,000 after purchasing an additional 9,914,656 shares during the period. Capital International Investors lifted its position in CSX by 14.3% during the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after buying an additional 5,041,679 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of CSX in the 2nd quarter worth about $116,430,000. M&G Plc bought a new position in shares of CSX in the 1st quarter worth about $126,089,000. Finally, Bank of New York Mellon Corp lifted its position in CSX by 6.6% during 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 during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CSX shares. Evercore ISI upgraded shares of CSX to a “strong-buy” rating in a report on Tuesday, August 6th. Stephens restated an “overweight” rating and issued a $42.00 price target on shares of CSX in a research note on Tuesday, August 6th. Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of CSX in a report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price target on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Finally, Sanford C. Bernstein lifted their price target on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Seven 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.80.

CSX Trading Up 0.8 %

NASDAQ:CSX opened at $34.07 on Wednesday. The company has a 50 day simple moving average of $33.95 and a two-hundred day simple moving average of $34.42. The company has a market cap of $66.60 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the previous year, the company posted $0.49 earnings per share. CSX’s revenue was up .0% compared to the same quarter last year. Research analysts forecast that CSX Co. will post 1.93 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Friday, August 30th. CSX’s dividend payout ratio (DPR) is presently 26.37%.

CSX 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.