CSX Co. (NASDAQ:CSX) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its position in shares of CSX Co. (NASDAQ:CSX) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,679,505 shares of the transportation company’s stock after purchasing an additional 109,422 shares during the period. The Manufacturers Life Insurance Company’s holdings in CSX were worth $92,523,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CSX. Advisors Asset Management Inc. boosted its stake in CSX by 581.7% in the first quarter. Advisors Asset Management Inc. now owns 5,283 shares of the transportation company’s stock valued at $196,000 after acquiring an additional 4,508 shares in the last quarter. Comerica Bank boosted its stake in CSX by 0.6% in the first quarter. Comerica Bank now owns 424,950 shares of the transportation company’s stock valued at $15,753,000 after acquiring an additional 2,744 shares in the last quarter. Citizens Financial Group Inc. RI boosted its stake in CSX by 1.6% in the first quarter. Citizens Financial Group Inc. RI now owns 32,823 shares of the transportation company’s stock valued at $1,217,000 after acquiring an additional 505 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of CSX during the first quarter worth about $431,000. Finally, LRI Investments LLC acquired a new stake in shares of CSX during the first quarter worth about $220,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Trading Down 0.3 %

Shares of CSX stock opened at $36.58 on Thursday. CSX Co. has a 12-month low of $31.65 and a 12-month 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 stock has a market cap of $70.54 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 2.32 and a beta of 1.19. The company has a 50-day moving average of $34.64 and a two-hundred day moving average of $33.99.

CSX (NASDAQ:CSX) last issued its earnings results 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 company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same period last year, the business posted $0.42 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis. On average, research analysts anticipate that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.12 dividend. 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 1.31%. CSX’s dividend payout ratio (DPR) is presently 25.81%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Evercore ISI decreased their target price on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. TD Cowen decreased their target price on shares of CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Citigroup increased their target price on shares of CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Wells Fargo & Company decreased their target price on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. Finally, BMO Capital Markets decreased their target price on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.78.

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.