Victory Capital Management Inc. Buys 238,079 Shares of CSX Co. (NASDAQ:CSX)

Victory Capital Management Inc. boosted its position in shares of CSX Co. (NASDAQ:CSX) by 13.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,957,688 shares of the transportation company’s stock after buying an additional 238,079 shares during the quarter. Victory Capital Management Inc. owned approximately 0.10% of CSX worth $67,599,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in shares of CSX by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock worth $2,418,883,000 after buying an additional 443,755 shares during the last quarter. Bank of New York Mellon Corp grew its holdings 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 worth $573,128,000 after acquiring an additional 1,060,204 shares during the period. Dimensional Fund Advisors LP raised its position in shares of CSX by 9.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock valued at $415,466,000 after acquiring an additional 1,060,617 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of CSX by 38.7% in the 2nd quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock valued at $225,917,000 after purchasing an additional 1,884,998 shares during the period. Finally, Interval Partners LP boosted its position in shares of CSX by 849.0% in the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after purchasing an additional 4,579,344 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Susquehanna dropped their price objective on CSX from $42.00 to $40.00 and set a “positive” rating for the company in a report on Thursday, October 17th. Wells Fargo & Company lowered their price target on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. Citigroup lifted their price objective on shares of CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday. Stephens lowered their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Finally, Stifel Nicolaus reduced their price target on shares of CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.78.

CSX Stock Down 2.3 %

Shares of CSX stock opened at $35.63 on Friday. The firm’s fifty day moving average price is $34.26 and its two-hundred day moving average price is $33.87. CSX Co. has a 1 year low of $30.86 and a 1 year high of $40.12. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $68.71 billion, a P/E ratio of 19.16, a PEG ratio of 2.29 and a beta of 1.19.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.42 EPS. On average, equities analysts predict that CSX Co. will post 1.84 EPS for the current fiscal 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 issued a dividend of $0.12 per share. 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 1.35%. CSX’s payout ratio is 25.81%.

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.