CSX Co. (NASDAQ:CSX) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its holdings in shares of CSX Co. (NASDAQ:CSX) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,521,214 shares of the transportation company’s stock after buying an additional 146,973 shares during the period. PNC Financial Services Group Inc.’s holdings in CSX were worth $225,178,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise increased its position in shares of CSX by 149.1% during the second quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock worth $575,000 after acquiring an additional 10,301 shares during the period. Ascent Group LLC grew its stake in CSX by 559.7% during the 1st quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock worth $2,179,000 after purchasing an additional 49,869 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in CSX by 20.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock worth $16,139,000 after purchasing an additional 80,423 shares during the period. Thrivent Financial for Lutherans raised its position in CSX by 0.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock valued at $116,521,000 after purchasing an additional 24,430 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of CSX by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company’s stock valued at $81,095,000 after buying an additional 77,488 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Price Performance

Shares of NASDAQ CSX opened at $34.97 on Tuesday. The stock has a market cap of $67.44 billion, a P/E ratio of 18.80, a P/E/G ratio of 2.23 and a beta of 1.19. CSX Co. has a twelve month low of $31.44 and a twelve month high of $40.12. The stock has a 50 day moving average of $34.35 and a two-hundred day moving average of $33.91. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter last year, the company earned $0.42 EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, research analysts forecast that CSX Co. will post 1.84 earnings per share for the current year.

CSX Announces Dividend

The business also recently declared 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio is currently 25.81%.

Analyst Ratings Changes

A number of research firms recently weighed in on CSX. Stifel Nicolaus cut their target price on shares of CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. BMO Capital Markets dropped their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Susquehanna decreased their price objective on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research report on Thursday, October 17th. Stephens dropped their target price on CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Finally, TD Cowen cut their price target on CSX from $36.00 to $35.00 and set a “hold” rating on the stock 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.78.

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.