7,366 Shares in CSX Corporation (NASDAQ:CSX) Purchased by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• OVERSEA CHINESE BANKING Corp Ltd has acquired 7,366 shares of CSX Corporation, valued at approximately $217,000.
• CSX Corporation reported a quarterly earnings per share (EPS) of $0.44, beating analysts' expectations and showing a 3.5% decrease in quarterly revenue compared to the previous year.
• The company recently declared a $0.13 quarterly dividend, representing an annualized yield of 1.5% with a payout ratio of 32.10%.

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of CSX Corporation (NASDAQ:CSX - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,366 shares of the transportation company's stock, valued at approximately $217,000.

A number of other large investors have also bought and sold shares of CSX. Bank of New York Mellon Corp boosted its stake in shares of 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 purchasing an additional 5,033,743 shares in the last quarter. Invesco Ltd. raised its stake 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 buying an additional 2,977,212 shares during the last quarter. Lazard Asset Management LLC grew its position in CSX by 3.5% during the fourth quarter. Lazard Asset Management LLC now owns 21,124,807 shares of the transportation company's stock valued at $681,696,000 after buying an additional 707,934 shares during the period. Northern Trust Corp increased its position in CSX by 13.8% in the fourth quarter. Northern Trust Corp now owns 21,097,789 shares of the transportation company's stock worth $680,826,000 after buying an additional 2,550,929 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of CSX by 89.7% during the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company's stock valued at $673,025,000 after buying an additional 9,863,587 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on CSX shares. Barclays lifted their price objective on CSX from $36.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Susquehanna restated a "neutral" rating and issued a $35.00 price target on shares of CSX in a report on Tuesday, June 24th. Sanford C. Bernstein restated a "market perform" rating and set a $36.00 price objective (up from $33.00) on shares of CSX in a report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft raised CSX from a "hold" rating to a "buy" rating and set a $40.00 price target on the stock in a research report on Thursday, July 24th. Finally, Evercore ISI lowered their price objective on shares of CSX from $35.00 to $33.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $37.00.

CSX Stock Up 0.5%

Shares of CSX traded up $0.19 during mid-day trading on Friday, hitting $35.44. 8,160,376 shares of the company traded hands, compared to its average volume of 15,960,545. The business has a 50 day moving average of $33.49 and a 200 day moving average of $31.46. The company has a market capitalization of $66.06 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 2.69 and a beta of 1.25. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. The firm had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. The business's quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 earnings per share. Equities research analysts anticipate that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

The firm also recently disclosed 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. This represents a $0.52 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, August 29th. CSX's payout ratio is presently 32.10%.

CSX Company 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.