CSX Co. (NASDAQ:CSX) Shares Acquired by ING Groep NV

ING Groep NV increased its position in shares of CSX Co. (NASDAQ:CSX) by 25.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,834,738 shares of the transportation company’s stock after buying an additional 369,197 shares during the quarter. ING Groep NV owned about 0.10% of CSX worth $63,354,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Interval Partners LP lifted its holdings in shares of CSX by 849.0% in 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 last quarter. Manning & Napier Advisors LLC acquired a new position in CSX during the second quarter worth $116,430,000. M&G Plc purchased a new position in shares of CSX during the first quarter worth $126,089,000. Assenagon Asset Management S.A. grew its stake in shares of CSX by 318.5% in the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock valued at $112,946,000 after buying an additional 2,489,329 shares in the last quarter. Finally, Wulff Hansen & CO. raised 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 buying an additional 2,126,668 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Down 1.9 %

CSX traded down $0.70 on Thursday, reaching $35.78. The company’s stock had a trading volume of 3,867,927 shares, compared to its average volume of 11,688,434. The company has a market capitalization of $69.00 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 2.29 and a beta of 1.19. CSX Co. has a fifty-two week low of $30.86 and a fifty-two 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. The stock has a 50 day moving average of $34.26 and a two-hundred day moving average of $33.87.

CSX (NASDAQ:CSX) last issued its earnings results 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). CSX had a net margin of 24.77% and a return on equity of 28.92%. The company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the previous year, the company posted $0.42 EPS. The company’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, analysts forecast that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio (DPR) is currently 25.81%.

Analysts Set New Price Targets

A number of analysts have issued reports on CSX shares. Evercore ISI cut their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. TD Cowen cut their target price on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Stifel Nicolaus reduced their target price on shares of CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Loop Capital decreased their price target 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. Finally, Citigroup increased their price objective on CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.