CSX Co. (NASDAQ:CSX) Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd decreased its position in CSX Co. (NASDAQ:CSX) by 2.0% in the third quarter, Holdings Channel reports. The institutional investor owned 383,224 shares of the transportation company’s stock after selling 7,845 shares during the period. Mediolanum International Funds Ltd’s holdings in CSX were worth $13,211,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Interval Partners LP increased its stake 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 valued at $171,222,000 after purchasing an additional 4,579,344 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in CSX in the second quarter valued at approximately $116,430,000. M&G Plc purchased a new stake in shares of CSX in the first quarter valued at approximately $126,089,000. Assenagon Asset Management S.A. raised its stake in shares of CSX by 318.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock worth $112,946,000 after buying an additional 2,489,329 shares during the period. Finally, Wulff Hansen & CO. lifted its position in shares of CSX by 3,243.0% during 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 in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX stock opened at $33.27 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The company has a market capitalization of $65.04 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. The firm’s 50-day moving average is $34.03 and its two-hundred day moving average is $33.89. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 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 analysts’ expectations of $3.68 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. Analysts predict that CSX Co. will post 1.93 earnings per share for the current 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 dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is 26.37%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. TD Cowen cut their price target on shares of CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Wells Fargo & Company cut their target price 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. Sanford C. Bernstein raised their price target on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. BMO Capital Markets cut their price objective on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, Susquehanna decreased their target price on CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.61.

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.