Healthcare of Ontario Pension Plan Trust Fund Sells 991,524 Shares of CSX Co. (NASDAQ:CSX)

Healthcare of Ontario Pension Plan Trust Fund lowered its stake in CSX Co. (NASDAQ:CSX) by 53.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 862,551 shares of the transportation company’s stock after selling 991,524 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in CSX were worth $29,784,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Banque Cantonale Vaudoise increased its position in shares of CSX by 149.1% in the second quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock worth $575,000 after purchasing an additional 10,301 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of CSX by 20.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock worth $16,139,000 after purchasing an additional 80,423 shares during the period. Thrivent Financial for Lutherans increased its position in shares of CSX by 0.7% in the third quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after purchasing an additional 24,430 shares during the period. Principal Financial Group Inc. increased its position in shares of CSX by 3.4% in the third quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company’s stock worth $81,095,000 after purchasing an additional 77,488 shares during the period. Finally, William B. Walkup & Associates Inc. bought a new position in shares of CSX in the second quarter worth $867,000. Institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CSX. TD Cowen reduced their price objective on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Susquehanna reduced their price objective on CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research note on Thursday, October 17th. JPMorgan Chase & Co. raised their price objective on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Stifel Nicolaus reduced their price objective on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Finally, Loop Capital reduced their price objective on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.78.

CSX Price Performance

CSX stock opened at $36.58 on Thursday. The stock’s 50 day moving average is $34.64 and its 200 day moving average is $33.99. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The firm has a market cap of $70.54 billion, a P/E ratio of 19.67, a P/E/G ratio of 2.32 and a beta of 1.19. CSX Co. has a one year low of $31.65 and a one year high of $40.12.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 earnings per share. As a group, research analysts expect that CSX Co. will post 1.84 EPS for the current year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.12 dividend. 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 1.31%. CSX’s payout ratio is currently 25.81%.

CSX 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.