Investment Management Corp of Ontario Purchases 10,942 Shares of CSX Co. (NASDAQ:CSX)

Investment Management Corp of Ontario boosted its position in CSX Co. (NASDAQ:CSX) by 20.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,909 shares of the transportation company’s stock after purchasing an additional 10,942 shares during the period. Investment Management Corp of Ontario’s holdings in CSX were worth $2,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Mather Group LLC. raised its stake in shares of CSX by 13.4% during the second quarter. Mather Group LLC. now owns 10,048 shares of the transportation company’s stock valued at $372,000 after acquiring an additional 1,191 shares in the last quarter. Kingswood Wealth Advisors LLC raised its stake in shares of CSX by 23.5% during the second quarter. Kingswood Wealth Advisors LLC now owns 16,795 shares of the transportation company’s stock valued at $562,000 after acquiring an additional 3,191 shares in the last quarter. CWM LLC raised its stake in shares of CSX by 2.4% during the second quarter. CWM LLC now owns 97,267 shares of the transportation company’s stock valued at $3,254,000 after acquiring an additional 2,313 shares in the last quarter. CX Institutional raised its stake in shares of CSX by 2.4% during the second quarter. CX Institutional now owns 92,093 shares of the transportation company’s stock valued at $3,081,000 after acquiring an additional 2,142 shares in the last quarter. Finally, BDF Gestion bought a new stake in shares of CSX during the second quarter valued at approximately $4,332,000. Institutional investors own 73.57% of the company’s stock.

CSX Stock Down 1.9 %

CSX opened at $35.30 on Thursday. CSX Co. has a twelve month low of $31.74 and a twelve month 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. The company has a 50-day moving average price of $34.82 and a 200 day moving average price of $34.07. The company has a market cap of $68.07 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 2.31 and a beta of 1.20.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The company had revenue of $3.62 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. Sell-side analysts expect that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Announces Dividend

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 paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.36%. CSX’s dividend payout ratio is presently 25.81%.

Wall Street Analyst Weigh In

CSX has been the subject of a number of recent research reports. Stifel Nicolaus reduced their price objective on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Wells Fargo & Company reduced their price objective 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. Benchmark reissued a “buy” rating and issued a $40.00 price objective on shares of CSX in a research note on Wednesday, August 7th. Citigroup lifted their price target on shares of CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Barclays lifted their price target on shares of CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.