CSX Co. (NASDAQ:CSX) Shares Acquired by Corvex Management LP

Corvex Management LP boosted its stake in shares of CSX Co. (NASDAQ:CSX - Free Report) by 69.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,753,068 shares of the transportation company's stock after acquiring an additional 715,800 shares during the quarter. CSX accounts for 1.6% of Corvex Management LP's portfolio, making the stock its 19th largest position. Corvex Management LP owned about 0.09% of CSX worth $56,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of CSX by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company's stock worth $1,339,555,000 after purchasing an additional 726,507 shares during the last quarter. Invesco Ltd. raised its holdings in shares of CSX by 13.5% during the fourth quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company's stock worth $810,076,000 after acquiring an additional 2,977,212 shares during the period. Fisher Asset Management LLC increased its holdings in CSX by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company's stock worth $805,345,000 after purchasing an additional 299,536 shares in the last quarter. Norges Bank acquired a new position in shares of CSX during the 4th quarter worth approximately $780,194,000. Finally, Bank of New York Mellon Corp raised its stake in shares of CSX by 40.5% during the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company's stock worth $753,507,000 after purchasing an additional 6,730,316 shares in the last quarter. Institutional investors own 73.57% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CSX shares. Stifel Nicolaus cut their price target on CSX from $37.00 to $34.00 and set a "buy" rating for the company in a report on Monday, April 14th. BMO Capital Markets dropped their price target on CSX from $36.00 to $35.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Citigroup decreased their target price on shares of CSX from $39.00 to $36.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Argus set a $32.00 price objective on shares of CSX in a research report on Friday, April 25th. Finally, Susquehanna reduced their price objective on CSX from $37.00 to $35.00 and set a "positive" rating for the company in a research note on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, CSX presently has an average rating of "Moderate Buy" and a consensus target price of $33.86.

CSX Price Performance

Shares of NASDAQ:CSX traded down $0.09 during midday trading on Friday, reaching $28.87. 613,159 shares of the company were exchanged, compared to its average volume of 12,684,529. The stock has a market cap of $54.24 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22. CSX Co. has a one year low of $26.22 and a one year high of $37.10. The business's fifty day moving average is $28.83 and its two-hundred day moving average is $31.90. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Friday, May 30th. CSX's dividend payout ratio is currently 31.14%.

CSX Profile

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.