CSX Co. (NASDAQ:CSX) Position Increased by Assetmark Inc.

Assetmark Inc. boosted its stake in shares of CSX Co. (NASDAQ:CSX) by 6.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 369,680 shares of the transportation company’s stock after purchasing an additional 21,662 shares during the quarter. Assetmark Inc.’s holdings in CSX were worth $12,765,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CSX. Rockbridge Investment Management LCC acquired a new position in CSX during the 3rd quarter valued at about $205,000. CWA Asset Management Group LLC acquired a new position in shares of CSX during the third quarter worth approximately $499,000. Equitable Trust Co. grew its holdings in CSX by 7.0% in the 3rd quarter. Equitable Trust Co. now owns 166,677 shares of the transportation company’s stock worth $5,755,000 after buying an additional 10,970 shares in the last quarter. Philip James Wealth Mangement LLC acquired a new stake in CSX in the 3rd quarter valued at approximately $516,000. Finally, Gold Investment Management Ltd. increased its position in CSX by 0.3% in the 3rd quarter. Gold Investment Management Ltd. now owns 116,727 shares of the transportation company’s stock valued at $4,031,000 after acquiring an additional 363 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Price Performance

CSX stock opened at $36.00 on Monday. The firm has a 50-day moving average of $34.15 and a two-hundred day moving average of $33.82. The firm has a market capitalization of $69.42 billion, a PE ratio of 19.35, a P/E/G ratio of 2.34 and a beta of 1.19. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a one year low of $30.13 and a one year high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings data 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 firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 EPS. On average, analysts forecast that CSX Co. will post 1.84 earnings per share for the current year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.33%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio is currently 25.81%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CSX shares. Royal Bank of Canada decreased their price target on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. Wells Fargo & Company dropped their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Loop Capital decreased their price objective on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a 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 note on Thursday, October 17th. Finally, BMO Capital Markets decreased their price target 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 research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.61.

CSX Company 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.