CSX Co. (NASDAQ:CSX) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its position in shares of CSX Co. (NASDAQ:CSX) by 48.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,489,870 shares of the transportation company’s stock after selling 3,259,957 shares during the quarter. Bank of Montreal Can owned approximately 0.18% of CSX worth $120,505,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Associated Banc Corp lifted its holdings in CSX by 0.6% in the 3rd quarter. Associated Banc Corp now owns 55,534 shares of the transportation company’s stock valued at $1,918,000 after purchasing an additional 310 shares in the last quarter. Truvestments Capital LLC acquired a new stake in shares of CSX in the third quarter valued at about $149,000. Harvest Fund Management Co. Ltd lifted its stake in shares of CSX by 51.0% in the third quarter. Harvest Fund Management Co. Ltd now owns 89,305 shares of the transportation company’s stock worth $3,083,000 after buying an additional 30,150 shares in the last quarter. Douglass Winthrop Advisors LLC grew its stake in CSX by 72.8% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 34,176 shares of the transportation company’s stock valued at $1,180,000 after acquiring an additional 14,400 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in CSX by 3.6% in the 3rd quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock valued at $851,404,000 after acquiring an additional 857,302 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Trading Up 0.2 %

NASDAQ CSX opened at $36.69 on Wednesday. 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 has a market cap of $70.75 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 2.27 and a beta of 1.19. The firm has a 50 day simple moving average of $34.59 and a 200-day simple moving average of $33.97. CSX Co. has a one year low of $31.65 and a one year high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings results 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 net margin of 24.77% and a return on equity of 28.92%. The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 EPS. Equities research analysts anticipate that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is presently 25.81%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CSX shares. Citigroup upped their price target on CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Barclays raised their target price on CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. TD Cowen lowered their price target on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Loop Capital cut their price objective on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Finally, BMO Capital Markets decreased their target price on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.78.

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.