Skandinaviska Enskilda Banken AB publ Raises Stake in CSX Co. (NASDAQ:CSX)

Skandinaviska Enskilda Banken AB publ boosted its stake in CSX Co. (NASDAQ:CSX) by 3.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 396,890 shares of the transportation company’s stock after purchasing an additional 13,400 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in CSX were worth $13,276,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Gilbert & Cook Inc. increased its holdings in shares of CSX by 4.4% in the fourth quarter. Gilbert & Cook Inc. now owns 19,037 shares of the transportation company’s stock worth $660,000 after purchasing an additional 798 shares during the period. 9258 Wealth Management LLC raised its holdings in shares of CSX by 8.0% in the 4th quarter. 9258 Wealth Management LLC now owns 12,184 shares of the transportation company’s stock valued at $422,000 after acquiring an additional 900 shares in the last quarter. Gryphon Financial Partners LLC boosted its position in shares of CSX by 7.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 20,416 shares of the transportation company’s stock valued at $693,000 after acquiring an additional 1,422 shares during the last quarter. Clearbridge Investments LLC grew its holdings in shares of CSX by 4.1% during the fourth quarter. Clearbridge Investments LLC now owns 64,856 shares of the transportation company’s stock worth $2,249,000 after purchasing an additional 2,579 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of CSX by 18.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 634,675 shares of the transportation company’s stock worth $22,004,000 after purchasing an additional 98,137 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Trading Up 0.4 %

NASDAQ:CSX opened at $34.93 on Friday. The firm has a market capitalization of $68.29 billion, a P/E ratio of 19.19, a P/E/G 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. The company has a fifty day moving average of $34.02 and a 200 day moving average of $34.37. CSX Co. has a 52 week low of $29.03 and a 52 week 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, beating the consensus estimate of $0.48 by $0.01. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 earnings per share. On average, research analysts predict that CSX Co. will post 1.93 earnings per share for the current year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.12 dividend. 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 dividend payout ratio (DPR) is currently 26.37%.

Wall Street Analyst Weigh In

A number of research firms have commented on CSX. Sanford C. Bernstein boosted their price target on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Stephens reissued an “overweight” rating and issued a $42.00 target price on shares of CSX in a research note on Tuesday, August 6th. JPMorgan Chase & Co. lifted their price target on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Evercore ISI upgraded CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. Finally, Bank of America cut CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Monday, July 8th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, CSX presently has an average rating of “Moderate Buy” and a consensus price target 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.