MetLife Investment Management LLC Has $17.42 Million Position in CSX Co. (NASDAQ:CSX)

MetLife Investment Management LLC trimmed its stake in CSX Co. (NASDAQ:CSX) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 504,393 shares of the transportation company’s stock after selling 17,032 shares during the quarter. MetLife Investment Management LLC’s holdings in CSX were worth $17,417,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Fisher Asset Management LLC raised its position in shares of CSX by 3.6% during the third quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock worth $851,404,000 after purchasing an additional 857,302 shares during the period. Bank of New York Mellon Corp raised its holdings in CSX by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock worth $573,128,000 after buying an additional 1,060,204 shares during the last quarter. FMR LLC lifted its stake in shares of CSX by 10.2% in the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after buying an additional 1,447,651 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of CSX by 9.3% during the second quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock valued at $415,466,000 after buying an additional 1,060,617 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of CSX by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,592,143 shares of the transportation company’s stock worth $400,277,000 after acquiring an additional 51,597 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Down 0.3 %

CSX opened at $36.58 on Thursday. The company’s 50-day moving average price is $34.64 and its two-hundred day moving average price is $33.99. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. CSX Co. has a twelve month low of $31.65 and a twelve month high of $40.12. The stock has a market cap of $70.54 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 2.32 and a beta of 1.19.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter in the previous year, the company posted $0.42 EPS. CSX’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities analysts expect that CSX Co. will post 1.84 earnings per share for the current year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is currently 25.81%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CSX. Citigroup raised their price target on shares of CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Benchmark restated a “buy” rating and issued a $40.00 target price on shares of CSX in a report on Wednesday, August 7th. TD Cowen cut their target price on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. JPMorgan Chase & Co. increased their price target on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Finally, Stephens cut their price objective on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.78.

About CSX

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 also 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.