CSX Corporation $CSX Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its position in CSX Corporation (NASDAQ:CSX) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,065,452 shares of the transportation company’s stock after buying an additional 28,364 shares during the period. Pictet Asset Management Holding SA’s holdings in CSX were worth $49,554,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. bought a new position in CSX during the second quarter worth about $7,655,277,000. XXEC Inc. bought a new stake in shares of CSX in the second quarter worth about $765,595,000. Bank of America Corp DE bought a new stake in shares of CSX in the second quarter worth about $1,598,962,000. Bank of New York Mellon Corp bought a new stake in shares of CSX in the second quarter worth about $950,325,000. Finally, Legal & General Group Plc acquired a new stake in shares of CSX during the second quarter worth about $747,001,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CSX shares. Wall Street Zen lowered shares of CSX from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Argus set a $56.00 price objective on shares of CSX in a research report on Friday, July 31st. Citizens Jmp initiated coverage on shares of CSX in a research report on Wednesday, July 15th. They set a “market perform” rating for the company. Barclays restated an “overweight” rating and set a $60.00 price objective (up from $55.00) on shares of CSX in a report on Thursday, July 23rd. Finally, UBS Group set a $54.00 price objective on shares of CSX in a research report on Thursday, October 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.20.

Insider Activity

In other news, Director John Zillmer sold 19,500 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $51.24, for a total transaction of $999,180.00. Following the sale, the director owned 334,214 shares in the company, valued at $17,125,125.36. This represents a 5.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.30% of the stock is currently owned by corporate insiders.

CSX Stock Performance

Shares of CSX opened at $51.08 on Wednesday. The stock has a market capitalization of $94.16 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 2.21 and a beta of 1.12. CSX Corporation has a 12 month low of $33.63 and a 12 month high of $53.60. The firm has a fifty day simple moving average of $48.79 and a 200 day simple moving average of $46.03. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 1.19.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 21st. The transportation company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. CSX had a net margin of 23.97% and a return on equity of 25.94%. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the prior year, the business posted $0.44 EPS. The company’s quarterly revenue was up 12.0% on a year-over-year basis. Research analysts forecast that CSX Corporation will post 2.05 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. CSX’s payout ratio is 29.02%.

About CSX

CSX Corporation is a freight transportation company that operates one of the largest rail networks in the eastern United States. Its rail system serves customers across much of the eastern U.S., as well as parts of Canada, and connects with other railroads and ports. CSX transports a broad range of goods, including chemicals, agricultural and food products, automobiles, minerals, forest products, coal and intermodal freight. Its services include rail transportation, intermodal shipping that combines rail and truck transport, and related logistics and supply-chain services.