Soros Fund Management LLC Acquires 83,597 Shares of CSX Co. (NASDAQ:CSX)

Soros Fund Management LLC lifted its holdings in shares of CSX Co. (NASDAQ:CSX) by 9.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 928,118 shares of the transportation company’s stock after buying an additional 83,597 shares during the period. Soros Fund Management LLC’s holdings in CSX were worth $32,048,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CSX. Itau Unibanco Holding S.A. acquired a new position in shares of CSX in the second quarter valued at approximately $26,000. Valley Wealth Managers Inc. lifted its holdings in shares of CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after buying an additional 480 shares in the last quarter. MFA Wealth Advisors LLC acquired a new position in shares of CSX in the second quarter valued at about $27,000. Morton Brown Family Wealth LLC acquired a new stake in CSX in the 3rd quarter worth about $31,000. Finally, Fairscale Capital LLC bought a new stake in CSX in the 2nd quarter valued at about $32,000. Institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wells Fargo & Company decreased their target price on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 17th. TD Cowen lowered their target price on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Susquehanna lowered their price objective on CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Thursday, October 17th. Citigroup lifted their target price on shares of CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Barclays lifted their price target on shares of CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.78.

CSX Stock Down 1.9 %

CSX stock opened at $34.62 on Friday. The firm has a 50 day simple moving average of $34.84 and a 200 day simple moving average of $34.07. The firm has a market capitalization of $66.76 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 2.28 and a beta of 1.20. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a 1-year low of $31.74 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter last year, the company posted $0.42 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, analysts predict that CSX Co. will post 1.84 earnings per share for the current year.

CSX Announces Dividend

The business 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 $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.39%. 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.