Assenagon Asset Management S.A. Raises Stock Holdings in CSX Co. (NASDAQ:CSX)

Assenagon Asset Management S.A. boosted its stake in shares of CSX Co. (NASDAQ:CSX) by 318.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,270,966 shares of the transportation company’s stock after buying an additional 2,489,329 shares during the period. Assenagon Asset Management S.A. owned approximately 0.17% of CSX worth $112,946,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its holdings in CSX by 0.7% during the 1st 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 buying an additional 443,755 shares during the period. Bank of New York Mellon Corp raised its holdings in CSX by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock valued at $573,128,000 after buying an additional 1,060,204 shares during the period. Dimensional Fund Advisors LP increased its stake in 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 purchasing an additional 1,060,617 shares during the period. Bank of Montreal Can increased its stake in CSX by 38.7% in the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock worth $225,917,000 after purchasing an additional 1,884,998 shares during the period. Finally, Interval Partners LP increased its stake in CSX by 849.0% in the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after purchasing an additional 4,579,344 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Down 1.9 %

CSX stock traded down $0.65 during trading on Thursday, reaching $32.94. 6,338,929 shares of the company traded hands, compared to its average volume of 11,597,106. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12. The business has a 50 day simple moving average of $34.04 and a 200 day simple moving average of $33.90. The company has a market capitalization of $64.40 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a net margin of 24.52% and a return on equity of 29.11%. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the previous year, the business earned $0.42 EPS. CSX’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities research analysts anticipate that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CSX. Evercore ISI reduced their target price on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Stifel Nicolaus reduced their target price on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. JPMorgan Chase & Co. increased their target price on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Susquehanna reduced their target price on CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research note on Thursday, October 17th. Finally, Sanford C. Bernstein increased their target price on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.61.

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.