M&G Plc Purchases 66,062 Shares of CSX Co. (NASDAQ:CSX)

by · The Markets Daily

M&G Plc increased its position in shares of CSX Co. (NASDAQ:CSX – Free Report) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,677,324 shares of the transportation company’s stock after acquiring an additional 66,062 shares during the quarter. M&G Plc owned about 0.19% of CSX worth $128,706,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Banque Cantonale Vaudoise boosted its holdings in shares of CSX by 149.1% in the 2nd quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock valued at $575,000 after acquiring an additional 10,301 shares during the last quarter. Ascent Group LLC boosted its holdings in shares of CSX by 559.7% in the 1st quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock valued at $2,179,000 after acquiring an additional 49,869 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of CSX by 20.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock valued at $16,139,000 after acquiring an additional 80,423 shares during the last quarter. PFG Advisors boosted its holdings in shares of CSX by 2.1% in the 1st quarter. PFG Advisors now owns 18,880 shares of the transportation company’s stock valued at $700,000 after acquiring an additional 387 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of CSX by 4.2% in the 1st quarter. Sei Investments Co. now owns 597,426 shares of the transportation company’s stock valued at $22,146,000 after acquiring an additional 23,938 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

CSX stock opened at $36.88 on Thursday. 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 stock has a market cap of $71.12 billion, a P/E ratio of 19.83, a PEG ratio of 2.10 and a beta of 1.19. The company has a 50-day moving average price of $34.08 and a 200 day moving average price of $33.80. CSX Co. has a 12-month low of $30.00 and a 12-month high of $40.12.

CSX (NASDAQ:CSX – Get Free Report) last announced 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 company 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 quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business earned $0.42 EPS. Sell-side analysts anticipate that CSX Co. will post 1.86 earnings per share 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 1.30%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 25.81%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Citigroup assumed coverage on shares of CSX in a report on Wednesday, October 9th. They set a “buy” rating and a $42.00 price target on the stock. Susquehanna lowered 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. BMO Capital Markets lowered their price target on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Stephens lowered their price target on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.61.

View Our Latest Research Report on CSX

About CSX

(Free Report)

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.

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