CIBC Asset Management Inc Boosts Position in CSX Co. (NASDAQ:CSX)

CIBC Asset Management Inc increased its holdings in CSX Co. (NASDAQ:CSX) by 5.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 603,509 shares of the transportation company’s stock after acquiring an additional 28,979 shares during the quarter. CIBC Asset Management Inc’s holdings in CSX were worth $20,839,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Western Wealth Management LLC raised its position in shares of CSX by 0.8% in the 2nd quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock worth $1,208,000 after acquiring an additional 295 shares in the last quarter. TriaGen Wealth Management LLC lifted its position in CSX by 2.7% during the second quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock valued at $385,000 after buying an additional 300 shares during the period. Lake Street Advisors Group LLC lifted its position in CSX by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock valued at $595,000 after buying an additional 306 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in shares of CSX by 0.9% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock valued at $1,222,000 after buying an additional 309 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. grew its position in shares of CSX by 33.7% in the 3rd quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company’s stock worth $43,000 after buying an additional 316 shares during the period. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of CSX stock opened at $35.13 on Friday. The firm has a market capitalization of $67.75 billion, a PE ratio of 18.89, a P/E/G ratio of 2.32 and a beta of 1.19. The company has a 50 day moving average price of $34.29 and a 200-day moving average price of $33.88. CSX Co. has a 52 week low of $30.86 and a 52 week high of $40.12. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last announced its earnings results 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). The company had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. CSX’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 earnings per share. As a group, equities research analysts expect that CSX Co. will post 1.84 earnings per share for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.37%. CSX’s payout ratio is 25.81%.

Wall Street Analyst Weigh In

CSX has been the subject of a number of recent research reports. BMO Capital Markets lowered their price target 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. Susquehanna dropped their price target on CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research report on Thursday, October 17th. Barclays upped their price target on CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday. Royal Bank of Canada lowered their price objective 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. Finally, Evercore ISI cut 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. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and an average price target of $38.78.

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.