CSX Co. (NASDAQ:CSX) Shares Bought by ICICI Prudential Asset Management Co Ltd

ICICI Prudential Asset Management Co Ltd boosted its position in shares of CSX Co. (NASDAQ:CSX) by 17.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,309 shares of the transportation company’s stock after acquiring an additional 3,834 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in CSX were worth $874,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise grew its holdings in CSX by 149.1% during the 2nd quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock worth $575,000 after acquiring an additional 10,301 shares in the last quarter. Ascent Group LLC grew its holdings in CSX by 559.7% during the 1st quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock worth $2,179,000 after acquiring an additional 49,869 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of CSX by 20.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock worth $16,139,000 after buying an additional 80,423 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of CSX by 3.4% during the 3rd quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company’s stock worth $81,095,000 after buying an additional 77,488 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of CSX by 4.2% during the 1st quarter. Sei Investments Co. now owns 597,426 shares of the transportation company’s stock worth $22,146,000 after buying an additional 23,938 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Loop Capital reduced their price objective on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report 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 report on Thursday, October 17th. Benchmark restated a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Evercore ISI reduced their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, 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 report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and an average target price of $38.72.

CSX Stock Performance

CSX stock traded up $0.11 during trading hours on Wednesday, reaching $36.24. 1,795,564 shares of the stock were exchanged, compared to its average volume of 11,693,506. The stock has a market cap of $69.89 billion, a P/E ratio of 19.42, a P/E/G ratio of 2.32 and a beta of 1.19. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. CSX Co. has a 52-week low of $30.86 and a 52-week high of $40.12. The firm’s 50 day moving average is $34.22 and its 200 day moving average is $33.85.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS. Analysts predict that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.32%. CSX’s payout ratio is currently 25.81%.

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.