CSX Co. (NASDAQ:CSX) Holdings Trimmed by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of CSX Co. (NASDAQ:CSX) by 81.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 450,161 shares of the transportation company’s stock after selling 1,967,348 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in CSX were worth $15,544,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position in 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 valued at $2,418,883,000 after acquiring an additional 443,755 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 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 worth $573,128,000 after buying an additional 1,060,204 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of CSX by 9.3% in the second quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock worth $415,466,000 after acquiring an additional 1,060,617 shares during the last quarter. Bank of Montreal Can increased its position in CSX by 38.7% during the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock worth $225,917,000 after acquiring an additional 1,884,998 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of CSX by 2.3% during the third quarter. PNC Financial Services Group Inc. now owns 6,521,214 shares of the transportation company’s stock valued at $225,178,000 after buying an additional 146,973 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CSX. Royal Bank of Canada decreased their target price on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Barclays upped their price objective on CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. TD Cowen cut their target price on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Stifel Nicolaus dropped their price objective on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Finally, Citigroup boosted their target price on shares of CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.78.

CSX Stock Down 0.1 %

Shares of NASDAQ CSX opened at $34.57 on Thursday. 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 $66.67 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19. The firm’s 50-day moving average is $34.39 and its 200-day moving average is $33.92. CSX Co. has a 1 year low of $31.65 and a 1 year high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the prior year, the firm posted $0.42 EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities analysts expect that CSX Co. will post 1.84 EPS for the current year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.39%. CSX’s dividend payout ratio is currently 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.