Fisher Asset Management LLC Purchases 857,302 Shares of CSX Co. (NASDAQ:CSX)

Fisher Asset Management LLC lifted its position in CSX Co. (NASDAQ:CSX) by 3.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 24,656,931 shares of the transportation company’s stock after purchasing an additional 857,302 shares during the period. Fisher Asset Management LLC’s holdings in CSX were worth $851,404,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several analysts recently weighed in on CSX shares. Wells Fargo & Company cut their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. TD Cowen cut their target price 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. Benchmark reissued a “buy” rating and issued a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. Susquehanna lowered their price objective on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a report on Thursday, October 17th. Finally, Citigroup upped their target price on CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.78.

CSX Price Performance

Shares of NASDAQ:CSX opened at $35.78 on Monday. CSX Co. has a 1-year low of $31.65 and a 1-year high of $40.12. The business has a fifty day moving average price of $34.48 and a 200-day moving average price of $33.94. The company has a market capitalization of $69.00 billion, a PE ratio of 19.24, a PEG ratio of 2.27 and a beta of 1.19. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm 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 quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 EPS. As a group, equities analysts expect that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is 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.