BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduces Position in CSX Co. (NASDAQ:CSX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in shares of CSX Co. (NASDAQ:CSX) by 13.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 326,164 shares of the transportation company’s stock after selling 49,071 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in CSX were worth $11,262,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CSX. Itau Unibanco Holding S.A. purchased a new stake in shares of CSX during the 2nd quarter worth about $26,000. Valley Wealth Managers Inc. boosted its stake in shares of CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after acquiring an additional 480 shares in the last quarter. MFA Wealth Advisors LLC purchased a new stake in shares of CSX during the 2nd quarter worth about $27,000. Morton Brown Family Wealth LLC purchased a new stake in shares of CSX during the 3rd quarter worth about $31,000. Finally, Fairscale Capital LLC purchased a new stake in shares of CSX during the 2nd quarter worth about $32,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Performance

NASDAQ:CSX opened at $36.55 on Monday. 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 Co. has a fifty-two week low of $31.72 and a fifty-two week high of $40.12. The stock has a market capitalization of $70.48 billion, a P/E ratio of 19.65, a PEG ratio of 2.32 and a beta of 1.19. The company has a 50 day moving average price of $34.70 and a 200 day moving average price of $34.03.

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. During the same period in the prior year, the business earned $0.42 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. Equities research analysts forecast that CSX Co. will post 1.84 EPS for the current year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.31%. CSX’s dividend payout ratio (DPR) is currently 25.81%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CSX shares. TD Cowen lowered their target price 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. Susquehanna reduced their price target on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research report on Thursday, October 17th. Evercore ISI reduced their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Citigroup upped their price target on shares of CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Loop Capital reduced their price target 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. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.78.

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.