Point72 Hong Kong Ltd Purchases New Stake in CSX Co. (NASDAQ:CSX)

Point72 Hong Kong Ltd purchased a new position in CSX Co. (NASDAQ:CSX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 30,659 shares of the transportation company’s stock, valued at approximately $1,059,000.

Other large investors have also added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new stake in shares of CSX in the third quarter worth about $43,000. B&L Asset Management LLC purchased a new stake in CSX in the 3rd quarter worth approximately $264,000. Erste Asset Management GmbH bought a new stake in shares of CSX in the 3rd quarter worth approximately $2,204,000. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of CSX during the third quarter valued at approximately $14,261,000. Finally, Atlantic Union Bankshares Corp raised its holdings in shares of CSX by 7.8% during the third quarter. Atlantic Union Bankshares Corp now owns 158,890 shares of the transportation company’s stock valued at $5,486,000 after acquiring an additional 11,441 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Benchmark reissued a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Wells Fargo & Company reduced their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Loop Capital lowered their price objective on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Barclays upped their target price on CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Evercore ISI lowered their target price on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.78.

CSX Stock Performance

Shares of CSX stock opened at $36.55 on Monday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The company has a market capitalization of $70.48 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 2.32 and a beta of 1.19. CSX Co. has a one year low of $31.72 and a one year high of $40.12. The company’s 50-day moving average is $34.70 and its 200 day moving average is $34.03.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. CSX’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the business earned $0.42 EPS. Sell-side analysts expect that CSX Co. will post 1.84 EPS for the current fiscal 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 $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio is currently 25.81%.

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.