Van ECK Associates Corp Has $23.56 Million Stock Holdings in CSX Co. (NASDAQ:CSX)

Van ECK Associates Corp raised its holdings in CSX Co. (NASDAQ:CSX) by 33.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 704,186 shares of the transportation company’s stock after acquiring an additional 176,748 shares during the quarter. Van ECK Associates Corp’s holdings in CSX were worth $23,555,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CSX. Price T Rowe Associates Inc. MD increased its position in CSX by 0.7% during 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 purchasing an additional 443,755 shares during the period. Capital International Investors boosted its stake in shares of CSX by 14.3% in the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after purchasing an additional 5,041,679 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of CSX by 2.0% during the fourth quarter. Fisher Asset Management LLC now owns 22,340,864 shares of the transportation company’s stock worth $774,558,000 after buying an additional 433,228 shares during the period. Norges Bank acquired a new position in CSX in the fourth quarter valued at $757,276,000. Finally, Bank of New York Mellon Corp boosted its position in CSX by 6.6% during the second 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 last quarter. Institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CSX. Evercore ISI raised CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $36.00 price target on shares of CSX in a research note on Tuesday, August 6th. JPMorgan Chase & Co. raised their price objective 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. Wells Fargo & Company initiated coverage on shares of CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 target price on the stock. Finally, Susquehanna raised their price target on shares of CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and an average price target of $38.80.

CSX Stock Up 1.3 %

CSX stock traded up $0.45 during mid-day trading on Friday, reaching $34.27. 9,050,356 shares of the company traded hands, compared to its average volume of 10,620,738. The stock has a market cap of $67.00 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 1.82 and a beta of 1.20. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The firm’s 50 day moving average price is $33.80 and its 200 day moving average price is $34.74. 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 (NASDAQ:CSX) last announced its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (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 business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the prior year, the company posted $0.49 earnings per share. CSX’s revenue was up .0% compared to the same quarter last year. As a group, equities research analysts predict that CSX Co. will post 1.94 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.40%. CSX’s dividend payout ratio (DPR) is 26.37%.

CSX Company 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.