China Universal Asset Management Co. Ltd. Purchases 12,837 Shares of CSX Co. (NASDAQ:CSX)

China Universal Asset Management Co. Ltd. increased its position in shares of CSX Co. (NASDAQ:CSX) by 109.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 24,591 shares of the transportation company’s stock after acquiring an additional 12,837 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in CSX were worth $849,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its stake in shares of CSX by 1.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,041,070 shares of the transportation company’s stock worth $35,948,000 after acquiring an additional 18,040 shares in the last quarter. Morton Brown Family Wealth LLC bought a new position in shares of CSX during the 3rd quarter worth approximately $31,000. J.W. Cole Advisors Inc. raised its stake in shares of CSX by 0.9% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock worth $1,222,000 after acquiring an additional 309 shares in the last quarter. Frank Rimerman Advisors LLC raised its stake in shares of CSX by 3.0% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 22,611 shares of the transportation company’s stock worth $781,000 after acquiring an additional 649 shares in the last quarter. Finally, GHP Investment Advisors Inc. increased its stake in CSX by 1.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 331,059 shares of the transportation company’s stock valued at $11,431,000 after purchasing an additional 5,591 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CSX shares. Benchmark restated a “buy” rating and set a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. Sanford C. Bernstein upped 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. TD Cowen cut their price target 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. Stephens cut their price target on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.61.

CSX Stock Performance

Shares of CSX stock opened at $33.25 on Wednesday. The firm’s 50 day moving average price is $34.02 and its 200-day moving average price is $33.82. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. CSX Co. has a one year low of $29.26 and a one year high of $40.12. The firm has a market cap of $65.00 billion, a P/E ratio of 18.27, a P/E/G ratio of 1.90 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 29.11% and a net margin of 24.52%. 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 prior year, the company posted $0.42 earnings per share. The business’s revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts predict that CSX Co. will post 1.93 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 dividend of $0.12 per share. 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 1.44%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

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.