Tiaa Fsb Acquires 8,290 Shares of CSX Co. (CSX)
Tiaa Fsb raised its holdings in shares of CSX Co. (NASDAQ:CSX) by 11.0% during the 3rd quarter, Holdings Channel reports. The firm owned 83,854 shares of the transportation company’s stock after acquiring an additional 8,290 shares during the quarter. Tiaa Fsb’s holdings in CSX were worth $6,210,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Egerton Capital UK LLP purchased a new stake in CSX during the second quarter valued at about $440,710,000. Standard Life Aberdeen plc lifted its holdings in CSX by 4.9% during the second quarter. Standard Life Aberdeen plc now owns 6,502,962 shares of the transportation company’s stock valued at $414,760,000 after purchasing an additional 301,707 shares during the last quarter. Morgan Stanley lifted its holdings in CSX by 13.6% during the second quarter. Morgan Stanley now owns 6,340,678 shares of the transportation company’s stock valued at $404,409,000 after purchasing an additional 757,521 shares during the last quarter. Millennium Management LLC lifted its holdings in CSX by 13.3% during the second quarter. Millennium Management LLC now owns 4,847,225 shares of the transportation company’s stock valued at $309,156,000 after purchasing an additional 569,310 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in CSX by 1.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 3,281,613 shares of the transportation company’s stock valued at $209,302,000 after purchasing an additional 46,078 shares during the last quarter. 74.82% of the stock is currently owned by institutional investors and hedge funds.
CSX stock opened at $67.94 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.48 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $57.97 billion, a P/E ratio of 19.73, a P/E/G ratio of 1.36 and a beta of 1.24. CSX Co. has a 1-year low of $48.26 and a 1-year high of $76.24.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Thursday, November 29th. CSX’s dividend payout ratio (DPR) is 38.26%.
Several equities research analysts have commented on CSX shares. Stephens reaffirmed a “buy” rating and set a $85.00 price objective on shares of CSX in a report on Tuesday, October 9th. BidaskClub cut CSX from a “buy” rating to a “hold” rating in a research report on Friday, August 31st. Stifel Nicolaus upped their price target on CSX from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, July 18th. Loop Capital upgraded CSX from a “hold” rating to a “buy” rating and upped their price target for the company from $65.00 to $78.00 in a research report on Wednesday, July 18th. Finally, Morgan Stanley upped their price target on CSX from $49.00 to $52.00 and gave the company a “sell” rating in a research report on Wednesday, July 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $77.55.
CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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