Pictet Asset Management Holding SA Acquires 28,364 Shares of CSX Corporation $CSX

Pictet Asset Management Holding SA lifted its holdings in CSX Corporation (NASDAQ:CSX) by 2.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,065,452 shares of the transportation company’s stock after buying an additional 28,364 shares during the quarter. Pictet Asset Management Holding SA owned about 0.06% of CSX worth $49,554,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AlphaCentric Advisors LLC bought a new stake in shares of CSX during the third quarter worth $268,000. Parallel Advisors LLC lifted its stake in shares of CSX by 3.9% during the third quarter. Parallel Advisors LLC now owns 24,890 shares of the transportation company’s stock valued at $1,158,000 after acquiring an additional 936 shares during the period. May Hill Capital LLC boosted its holdings in CSX by 3.0% in the third quarter. May Hill Capital LLC now owns 10,700 shares of the transportation company’s stock valued at $498,000 after acquiring an additional 308 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its holdings in CSX by 25.6% in the third quarter. Ashton Thomas Private Wealth LLC now owns 7,982 shares of the transportation company’s stock valued at $371,000 after acquiring an additional 1,625 shares during the last quarter. Finally, CenterBook Partners LP boosted its holdings in CSX by 100.2% in the third quarter. CenterBook Partners LP now owns 10,591 shares of the transportation company’s stock valued at $493,000 after acquiring an additional 5,301 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Insider Activity

In other news, Director John Zillmer sold 19,500 shares of the company’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $51.24, for a total value of $999,180.00. Following the completion of the sale, the director directly owned 334,214 shares of the company’s stock, valued at $17,125,125.36. This represents a 5.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.30% of the company’s stock.

CSX Stock Up 1.2%

NASDAQ:CSX opened at $51.08 on Wednesday. CSX Corporation has a 12-month low of $33.63 and a 12-month high of $53.60. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $94.16 billion, a P/E ratio of 26.47, a P/E/G ratio of 2.21 and a beta of 1.12. The stock’s fifty day simple moving average is $48.79 and its 200-day simple moving average is $46.03.

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

CSX Announces Dividend

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

Analysts Set New Price Targets

Several analysts have weighed in on the company. BMO Capital Markets reissued a “market perform” rating and set a $52.00 price objective (up from $49.00) on shares of CSX in a report on Thursday, July 23rd. Wall Street Zen lowered shares of CSX from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $54.00 target price (up from $53.00) on shares of CSX in a research note on Thursday, October 22nd. Weiss Ratings upgraded shares of CSX from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 29th. Finally, Citizens Jmp started coverage on shares of CSX in a research note on Wednesday, July 15th. They set a “market perform” rating for the company. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.20.

CSX Profile

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.