Cohen Capital Management Inc. Raises Stock Holdings in CSX Co. (NASDAQ:CSX)

Cohen Capital Management Inc. lifted its holdings in shares of CSX Co. (NASDAQ:CSX) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 278,908 shares of the transportation company’s stock after acquiring an additional 700 shares during the period. CSX accounts for about 1.6% of Cohen Capital Management Inc.’s holdings, making the stock its 21st biggest position. Cohen Capital Management Inc.’s holdings in CSX were worth $9,631,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in CSX by 0.7% in the first 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 purchasing an additional 443,755 shares during the period. Bank of New York Mellon Corp increased its position in CSX by 6.6% in 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 acquiring an additional 1,060,204 shares during the period. Dimensional Fund Advisors LP increased its position in CSX by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock valued at $415,466,000 after acquiring an additional 1,060,617 shares during the period. Bank of Montreal Can raised its stake in CSX by 38.7% during the 2nd quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock valued at $225,917,000 after acquiring an additional 1,884,998 shares during the last quarter. Finally, Interval Partners LP lifted its position in CSX by 849.0% during the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after acquiring an additional 4,579,344 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CSX. Royal Bank of Canada cut their price target on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. Wells Fargo & Company reduced 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. Sanford C. Bernstein boosted their price target on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. BMO Capital Markets reduced their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. lifted their price objective on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.61.

CSX Price Performance

CSX stock opened at $33.48 on Monday. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The firm’s 50-day simple moving average is $34.01 and its 200 day simple moving average is $33.79. CSX Co. has a 52 week low of $30.00 and a 52 week high of $40.12. The firm has a market capitalization of $64.56 billion, a PE ratio of 17.95, a P/E/G ratio of 2.12 and a beta of 1.19.

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 analyst estimates of $3.68 billion. During the same quarter in the prior year, the company earned $0.42 earnings per share. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities research analysts predict that CSX Co. will post 1.86 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. CSX’s dividend payout ratio is currently 25.81%.

CSX Company 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.