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

Bank of Montreal Can reduced its holdings in shares of CSX Co. (NASDAQ:CSX) by 48.3% in the 3rd quarter, HoldingsChannel reports. 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’s holdings in CSX were worth $120,505,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Advisors Asset Management Inc. lifted its position in shares of CSX by 581.7% during the 1st quarter. Advisors Asset Management Inc. now owns 5,283 shares of the transportation company’s stock worth $196,000 after buying an additional 4,508 shares during the last quarter. Tidal Investments LLC lifted its position in CSX by 3.7% in the first quarter. Tidal Investments LLC now owns 131,410 shares of the transportation company’s stock valued at $4,869,000 after acquiring an additional 4,669 shares during the last quarter. Comerica Bank boosted its stake in CSX by 0.6% in the first quarter. Comerica Bank now owns 424,950 shares of the transportation company’s stock valued at $15,753,000 after acquiring an additional 2,744 shares in the last quarter. LBP AM SA purchased a new position in shares of CSX during the first quarter worth about $1,504,000. Finally, iA Global Asset Management Inc. lifted its holdings in shares of CSX by 54.8% in the 1st quarter. iA Global Asset Management Inc. now owns 294,642 shares of the transportation company’s stock valued at $10,922,000 after purchasing an additional 104,302 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of NASDAQ:CSX opened at $36.69 on Wednesday. CSX Co. has a 12 month low of $31.65 and a 12 month high of $40.12. The firm has a market capitalization of $70.75 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19. The business’s 50 day simple moving average is $34.59 and its 200-day simple moving average is $33.97. 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 posted its earnings results 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). The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. As a group, equities analysts forecast that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 25.81%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CSX. Loop Capital cut their price target on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Wells Fargo & Company reduced their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. TD Cowen lowered their price objective 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. Benchmark reaffirmed a “buy” rating and issued a $40.00 target price on shares of CSX in a report on Wednesday, August 7th. Finally, Citigroup raised their price target on CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average 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.