CSX Co. (NASDAQ:CSX) Shares Purchased by Empirical Finance LLC

Empirical Finance LLC raised its stake in CSX Co. (NASDAQ:CSX) by 1.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,157 shares of the transportation company’s stock after acquiring an additional 1,169 shares during the quarter. Empirical Finance LLC’s holdings in CSX were worth $2,457,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in shares of CSX by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock valued at $2,418,883,000 after acquiring an additional 443,755 shares during the period. Bank of New York Mellon Corp boosted its position in CSX by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock worth $573,128,000 after purchasing an additional 1,060,204 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in CSX by 9.3% in the second quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock valued at $415,466,000 after purchasing an additional 1,060,617 shares during the period. Bank of Montreal Can increased its position in shares of CSX by 38.7% in the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock valued at $225,917,000 after buying an additional 1,884,998 shares in the last quarter. Finally, Interval Partners LP raised its stake in shares of CSX by 849.0% during the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after buying an additional 4,579,344 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Down 1.4 %

CSX stock opened at $35.13 on Friday. CSX Co. has a one year low of $30.86 and a one year high of $40.12. The firm has a market cap of $67.75 billion, a PE ratio of 18.89, a PEG ratio of 2.32 and a beta of 1.19. The firm’s 50 day moving average price is $34.32 and its 200-day moving average price is $33.89. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. CSX’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. On average, equities research analysts anticipate that CSX Co. will post 1.84 EPS for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.37%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 25.81%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Barclays lifted their price target on shares of CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Wednesday. Wells Fargo & Company cut their target price on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of CSX in a report on Wednesday, August 7th. Royal Bank of Canada lowered their price target on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. Finally, BMO Capital Markets reduced their price objective on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.