Van ECK Associates Corp Increases Stock Holdings in CSX Co. (NASDAQ:CSX)

Van ECK Associates Corp lifted its stake in shares of CSX Co. (NASDAQ:CSX) by 35.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 956,778 shares of the transportation company’s stock after purchasing an additional 252,592 shares during the period. Van ECK Associates Corp’s holdings in CSX were worth $32,139,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CSX. Banque Cantonale Vaudoise grew its stake in shares of CSX by 149.1% during the 2nd quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock worth $575,000 after purchasing an additional 10,301 shares during the period. Ascent Group LLC lifted its holdings in shares of CSX by 559.7% during the 1st quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock valued at $2,179,000 after acquiring an additional 49,869 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of CSX by 20.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock valued at $16,139,000 after buying an additional 80,423 shares in the last quarter. PFG Advisors lifted its position in shares of CSX by 2.1% during the first quarter. PFG Advisors now owns 18,880 shares of the transportation company’s stock worth $700,000 after purchasing an additional 387 shares in the last quarter. Finally, Sei Investments Co. boosted its position in CSX by 4.2% in the 1st quarter. Sei Investments Co. now owns 597,426 shares of the transportation company’s stock valued at $22,146,000 after buying an additional 23,938 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Down 0.1 %

CSX stock opened at $33.36 on Tuesday. 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 cap of $64.33 billion, a PE ratio of 17.94, a PEG ratio of 2.12 and a beta of 1.19. CSX Co. has a 1 year low of $30.00 and a 1 year high of $40.12. The company has a fifty day simple moving average of $34.01 and a 200 day simple moving average of $33.78.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The business’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 EPS. Sell-side analysts anticipate that CSX Co. will post 1.86 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 given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 25.81%.

Analysts Set New Price Targets

A number of research analysts have commented on CSX shares. TD Cowen reduced their price objective on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Royal Bank of Canada cut their target price on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Bank of America lowered shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Monday, July 8th. BMO Capital Markets decreased their price objective 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. Finally, Benchmark reissued a “buy” rating and set a $40.00 target price on shares of CSX in a research note on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.61.

CSX 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.