Wealth Alliance LLC purchased a new position in CSX Corporation (NASDAQ:CSX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 17,432 shares of the transportation company's stock, valued at approximately $513,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in CSX by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company's stock valued at $1,339,555,000 after acquiring an additional 726,507 shares during the period. Bank of New York Mellon Corp lifted its position in CSX by 21.6% during the 1st quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company's stock valued at $835,336,000 after acquiring an additional 5,033,743 shares during the period. Invesco Ltd. lifted its position in CSX by 13.5% during the 4th quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company's stock valued at $810,076,000 after acquiring an additional 2,977,212 shares during the period. Norges Bank purchased a new position in CSX during the 4th quarter valued at about $780,194,000. Finally, Lazard Asset Management LLC lifted its position in CSX by 3.5% during the 4th quarter. Lazard Asset Management LLC now owns 21,124,807 shares of the transportation company's stock valued at $681,696,000 after acquiring an additional 707,934 shares during the period. Hedge funds and other institutional investors own 73.57% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on CSX shares. Evercore ISI lowered their price target on shares of CSX from $35.00 to $33.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Royal Bank Of Canada lowered their price target on CSX from $31.00 to $30.00 and set a "sector perform" rating for the company in a research report on Thursday, April 17th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $35.00 price target on shares of CSX in a research report on Monday, June 2nd. Barclays reaffirmed an "overweight" rating and issued a $36.00 price target (up previously from $31.00) on shares of CSX in a research report on Thursday, July 10th. Finally, UBS Group lowered their price target on CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $35.59.
View Our Latest Analysis on CSX
CSX Trading Down 0.1%
CSX stock opened at $34.36 on Tuesday. The business has a 50-day simple moving average of $32.27 and a two-hundred day simple moving average of $31.15. The company has a market cap of $64.55 billion, a P/E ratio of 20.57, a P/E/G ratio of 3.08 and a beta of 1.23. CSX Corporation has a 52-week low of $26.22 and a 52-week high of $37.10. The company has a quick ratio of 0.75, a current ratio of 0.88 and a debt-to-equity ratio of 1.52.
CSX Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.51%. CSX's dividend payout ratio is currently 31.14%.
CSX Profile
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Free Report)
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.
See Also
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