Several large investors have increased their holdings in CSX. Price T Rowe Associates raised its stake by 0.7% and now owns over 65 million shares, valued at approximately $2.4 billion. Fisher Asset Management increased its holdings by 2%, owning about 22 million shares worth $774 million. Bank of New York Mellon grew its position by 6.6% to over 17 million shares, valued at $573 million. Dimensional Fund Advisors raised its stake by 9.3%, now holding 12 million shares worth $415 million. Lastly, Bank of Montreal boosted its position by 38.7%, owning nearly 7 million shares valued at $226 million. Institutional investors hold 73.57% of CSX stock.
Analysts Set New Price Targets
Recently, analysts have updated their ratings for CSX. Evercore ISI upgraded CSX to “strong-buy” on August 6. Stephens maintained an “overweight” rating with a $42 price target. Bank of America lowered its rating from “buy” to “neutral,” targeting $37. Citigroup gave CSX a “buy” rating with a $42 target, while Susquehanna raised its target from $41 to $42. Overall, CSX has an average rating of “Moderate Buy” with a target price of $39.19.
Check Out Our Latest Stock Report on CSX
CSX Price Performance
On Thursday, CSX shares rose by $0.18 to $34.44, with a trading volume of over 2 million shares. The company’s market cap is $67.33 billion. The 12-month low and high for the stock are $29.03 and $40.12, respectively. CSX reported earnings of $0.49 per share for the last quarter, beating estimates and maintaining a revenue of $3.70 billion.
CSX Announces Dividend
CSX will pay a quarterly dividend of $0.12 on December 13, 2019, to shareholders recorded by November 29. This dividend equates to an annual yield of 1.39%.
CSX Profile
CSX Corporation provides rail-based freight transportation services, including the transport of intermodal containers, chemicals, food products, and coal.
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