CSX Co. (NASDAQ:CSX) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. lessened its stake in shares of CSX Co. (NASDAQ:CSX) by 17.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 258,512 shares of the transportation company’s stock after selling 56,369 shares during the period. Northwest & Ethical Investments L.P.’s holdings in CSX were worth $8,926,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CSX. Vinva Investment Management Ltd raised its stake in CSX by 14.5% in the 3rd quarter. Vinva Investment Management Ltd now owns 88,931 shares of the transportation company’s stock valued at $3,071,000 after purchasing an additional 11,244 shares during the last quarter. Financial Counselors Inc. grew its holdings in shares of CSX by 1.5% during the third quarter. Financial Counselors Inc. now owns 350,021 shares of the transportation company’s stock worth $12,086,000 after buying an additional 5,112 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in shares of CSX by 10.3% during the third quarter. Public Sector Pension Investment Board now owns 82,276 shares of the transportation company’s stock worth $2,841,000 after buying an additional 7,700 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of CSX by 6.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,745,972 shares of the transportation company’s stock valued at $440,118,000 after buying an additional 737,221 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of CSX by 3.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 801,352 shares of the transportation company’s stock worth $27,671,000 after buying an additional 26,109 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CSX shares. Royal Bank of Canada dropped their price objective on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. Stifel Nicolaus dropped their price target on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Evercore ISI reduced their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Stephens lowered their price objective on CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Finally, Benchmark reaffirmed a “buy” rating and issued a $40.00 target price on shares of CSX in a research note on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.78.

CSX Stock Performance

Shares of CSX stock opened at $36.58 on Friday. CSX Co. has a one year low of $31.65 and a one year high of $40.12. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The firm’s 50 day moving average price is $34.67 and its 200-day moving average price is $34.01. 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 (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The firm 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 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities research analysts predict that CSX Co. will post 1.84 EPS for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend 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.