Bank of Nova Scotia lifted its position in CSX Co. (NASDAQ:CSX) by 60.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 188,105 shares of the transportation company’s stock after acquiring an additional 71,119 shares during the period. Bank of Nova Scotia’s holdings in CSX were worth $11,997,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Archford Capital Strategies LLC bought a new stake in CSX during the 1st quarter worth approximately $109,000. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new stake in CSX during the 1st quarter worth approximately $123,000. IMS Capital Management bought a new stake in CSX during the 2nd quarter worth approximately $124,000. Kaizen Advisory LLC increased its stake in CSX by 150.5% during the 2nd quarter. Kaizen Advisory LLC now owns 2,164 shares of the transportation company’s stock worth $138,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Sun Life Financial INC increased its stake in CSX by 950.0% during the 2nd quarter. Sun Life Financial INC now owns 2,373 shares of the transportation company’s stock worth $151,000 after purchasing an additional 2,147 shares in the last quarter. Institutional investors and hedge funds own 74.62% of the company’s stock.
CSX has been the subject of several research reports. TD Securities raised their price target on shares of CSX from $68.00 to $71.00 and gave the stock a “$69.00” rating in a research note on Wednesday, July 18th. Raymond James raised their price target on shares of CSX from $70.00 to $75.00 and gave the stock a “$69.00” rating in a research note on Wednesday, July 18th. Cowen reaffirmed a “$69.00” rating and set a $74.00 price target on shares of CSX in a research note on Wednesday, July 18th. Stifel Nicolaus raised their price target on shares of CSX from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, July 18th. Finally, UBS Group set a $82.00 price target on shares of CSX and gave the stock a “buy” rating in a research note on Wednesday, July 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $72.43.
Shares of NASDAQ:CSX traded up $1.43 during midday trading on Friday, hitting $70.20. The stock had a trading volume of 7,721,003 shares, compared to its average volume of 5,814,087. CSX Co. has a 12 month low of $48.26 and a 12 month high of $76.24. The company has a current ratio of 1.66, a quick ratio of 1.48 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $63.59 billion, a PE ratio of 30.52, a P/E/G ratio of 1.54 and a beta of 1.24.
CSX (NASDAQ:CSX) last released its earnings results on Tuesday, July 17th. The transportation company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.15. CSX had a net margin of 53.27% and a return on equity of 19.31%. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period last year, the business earned $0.64 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. On average, equities analysts predict that CSX Co. will post 3.61 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.25%. CSX’s dividend payout ratio is presently 38.26%.
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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