Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Holdings in CSX Co. (NASDAQ:CSX)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of CSX Co. (NASDAQ:CSX) by 3.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 801,352 shares of the transportation company’s stock after purchasing an additional 26,109 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CSX were worth $27,671,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of CSX. Interval Partners LP grew its stake 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 buying an additional 4,579,344 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of CSX in the second quarter valued at approximately $116,430,000. Assenagon Asset Management S.A. grew its position in shares of CSX by 318.5% during the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock worth $112,946,000 after acquiring an additional 2,489,329 shares during the last quarter. Wulff Hansen & CO. increased its holdings in shares of CSX by 3,243.0% in the 2nd quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after acquiring an additional 2,126,668 shares during the period. Finally, Bank of Montreal Can raised its position in CSX by 38.7% in 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 purchasing an additional 1,884,998 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Trading Down 0.1 %

Shares of CSX stock opened at $36.55 on Friday. The company has a 50-day moving average of $34.70 and a two-hundred day moving average of $34.02. The stock has a market cap of $70.48 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 2.32 and a beta of 1.19. 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 Co. has a 12-month low of $31.72 and a 12-month high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) 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 analyst estimates of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 earnings per share. On average, research analysts anticipate that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 1.31%. CSX’s dividend payout ratio is presently 25.81%.

Analyst Upgrades and Downgrades

CSX has been the topic of several research reports. Evercore ISI lowered their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. TD Cowen lowered their price target on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Citigroup boosted their price target on CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Royal Bank of Canada decreased their price objective on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Finally, Wells Fargo & Company dropped their target price on CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus target price of $38.78.

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.