UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 737,221 Shares of CSX Co. (NASDAQ:CSX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of CSX Co. (NASDAQ:CSX) by 6.1% in the third quarter, Holdings Channel.com reports. The firm owned 12,745,972 shares of the transportation company’s stock after purchasing an additional 737,221 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in CSX were worth $440,118,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Valley Wealth Managers Inc. increased its stake in shares of CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 480 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of CSX during the second quarter valued at approximately $26,000. MFA Wealth Advisors LLC bought a new position in shares of CSX during the second quarter valued at approximately $27,000. Fairscale Capital LLC bought a new position in shares of CSX during the second quarter valued at approximately $32,000. Finally, Morton Brown Family Wealth LLC bought a new position in shares of CSX during the third quarter valued at approximately $31,000. Institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. BMO Capital Markets decreased their target price on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Benchmark reiterated a “buy” rating and set a $40.00 price target on shares of CSX in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price target on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Loop Capital cut their price target on shares of CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Finally, Susquehanna cut their price target on shares of CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Thursday, October 17th. Seven 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, CSX has a consensus rating of “Moderate Buy” and an average target price of $38.78.

CSX Trading Down 0.3 %

Shares of CSX stock opened at $36.58 on Friday. CSX Co. has a 12-month low of $31.65 and a 12-month high of $40.12. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The firm’s 50 day moving average is $34.67 and its 200 day moving average is $34.01. The stock has a market capitalization of $70.54 billion, a P/E ratio of 19.67, a P/E/G ratio of 2.32 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its quarterly 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 business had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 EPS. Research analysts expect that CSX Co. will post 1.84 earnings per share for the current year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio is presently 25.81%.

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.