TD Asset Management Inc Boosts Stake in CSX Co. (NASDAQ:CSX)

TD Asset Management Inc raised its position in CSX Co. (NASDAQ:CSX) by 81.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,453,951 shares of the transportation company’s stock after buying an additional 652,532 shares during the period. TD Asset Management Inc owned 0.07% of CSX worth $49,580,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Intech Investment Management LLC increased its stake in CSX by 77.3% in the 2nd quarter. Intech Investment Management LLC now owns 163,773 shares of the transportation company’s stock valued at $5,585,000 after buying an additional 71,384 shares during the last quarter. Roundview Capital LLC grew its position in shares of CSX by 2.2% during the 2nd quarter. Roundview Capital LLC now owns 43,108 shares of the transportation company’s stock valued at $1,470,000 after acquiring an additional 945 shares during the period. Montag A & Associates Inc. grew its position in shares of CSX by 15.0% during the 2nd quarter. Montag A & Associates Inc. now owns 10,350 shares of the transportation company’s stock valued at $353,000 after acquiring an additional 1,350 shares during the period. Lido Advisors LLC grew its position in shares of CSX by 22.5% during the 2nd quarter. Lido Advisors LLC now owns 41,029 shares of the transportation company’s stock valued at $1,399,000 after acquiring an additional 7,544 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of CSX by 4.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,664,086 shares of the transportation company’s stock valued at $56,745,000 after acquiring an additional 71,680 shares during the period. Hedge funds and other institutional investors own 72.76% of the company’s stock.

CSX Stock Down 0.4 %

Shares of NASDAQ:CSX opened at $30.99 on Thursday. The firm has a fifty day moving average price of $30.57 and a two-hundred day moving average price of $31.58. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.14 and a quick ratio of 1.00. CSX Co. has a one year low of $27.60 and a one year high of $34.38. The company has a market cap of $61.24 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 2.48 and a beta of 1.20.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Thursday, October 19th. The transportation company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. CSX had a net margin of 26.16% and a return on equity of 31.28%. The firm had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same period last year, the firm earned $0.52 EPS. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. Analysts anticipate that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Wednesday, November 29th. CSX’s dividend payout ratio (DPR) is currently 23.40%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CSX. Stephens reissued an “overweight” rating and set a $39.00 target price on shares of CSX in a research report on Friday, July 21st. Royal Bank of Canada reduced their target price on shares of CSX from $35.00 to $34.00 and set a “sector perform” rating for the company in a research report on Friday, October 20th. Barclays reduced their target price on shares of CSX from $40.00 to $38.00 in a research report on Wednesday, October 4th. JPMorgan Chase & Co. raised shares of CSX from a “neutral” rating to an “overweight” rating and increased their target price for the company from $37.00 to $40.00 in a research report on Wednesday, October 11th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $25.00 price objective on shares of CSX in a report on Friday, July 21st. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and an average price target of $36.00.

CSX 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 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.