CSX Co. (NASDAQ:CSX) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 39.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,380 shares of the transportation company’s stock after selling 45,934 shares during the quarter. Jennison Associates LLC’s holdings in CSX were worth $2,396,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CSX. Banque Cantonale Vaudoise raised its stake in shares of CSX by 149.1% in the second quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock worth $575,000 after purchasing an additional 10,301 shares during the last quarter. Ascent Group LLC lifted its stake in CSX by 559.7% during 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 period. 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. Thrivent Financial for Lutherans increased its stake in shares of CSX by 0.7% in the third quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after acquiring an additional 24,430 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of CSX by 3.4% during the third quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company’s stock worth $81,095,000 after purchasing an additional 77,488 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CSX shares. Susquehanna cut their price target on CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research report on Thursday, October 17th. Stifel Nicolaus dropped their target price on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. 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 report on Thursday, October 17th. BMO Capital Markets dropped their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of CSX in a research note on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, CSX presently has an average rating of “Moderate Buy” and an average price target of $38.78.

CSX Trading Up 1.2 %

Shares of CSX stock opened at $35.78 on Friday. CSX Co. has a twelve month low of $31.65 and a twelve month high of $40.12. The firm’s 50-day moving average price is $34.48 and its 200 day moving average price is $33.94. 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 has a market capitalization of $69.00 billion, a PE ratio of 19.24, a P/E/G ratio of 2.24 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period in the prior year, the firm earned $0.42 earnings per share. The business’s revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts predict that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio (DPR) is 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.