Mercer Global Advisors Inc. ADV Grows Stock Position in CSX Co. (NASDAQ:CSX)

Mercer Global Advisors Inc. ADV boosted its stake in shares of CSX Co. (NASDAQ:CSX) by 15.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 366,626 shares of the transportation company’s stock after purchasing an additional 50,073 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in CSX were worth $12,272,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted 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 worth $2,418,883,000 after purchasing an additional 443,755 shares during the last quarter. Capital International Investors lifted its holdings in CSX by 14.3% during the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after buying an additional 5,041,679 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in CSX by 2.0% during the 4th quarter. Fisher Asset Management LLC now owns 22,340,864 shares of the transportation company’s stock worth $774,558,000 after buying an additional 433,228 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of CSX by 6.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock valued at $573,128,000 after acquiring an additional 1,060,204 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of CSX by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock valued at $415,466,000 after acquiring an additional 1,060,617 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Performance

NASDAQ:CSX opened at $34.80 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The firm has a market cap of $68.03 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19. The firm’s fifty day moving average price is $34.00 and its 200 day moving average price is $34.42. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last issued its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 earnings per share. On average, sell-side analysts expect that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.38%. The ex-dividend date was Friday, August 30th. CSX’s payout ratio is 26.37%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wells Fargo & Company started coverage on CSX in a report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price target for the company. BMO Capital Markets restated an “outperform” rating and issued a $40.00 target price on shares of CSX in a report on Tuesday, August 6th. Bank of America lowered shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research note on Monday, July 8th. Susquehanna upped their price objective on shares of CSX from $40.00 to $41.00 and gave the company a “positive” rating in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $36.00 target price on shares of CSX in a research report on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.80.

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.