CSX Corporation $CSX Shares Acquired by Aberdeen Group plc

Key Points

• Aberdeen Group plc has significantly increased its stake in CSX Corporation by 108.2%, owning over 2.18 million shares valued at approximately $64 million.
• CSX reported a quarterly earnings per share of $0.44, slightly beating analysts' estimates, despite a 3.5% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.13 per share, translating to an annualized yield of 1.4%, set to be paid to investors of record on August 29th.

Aberdeen Group plc raised its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 108.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,182,836 shares of the transportation company's stock after purchasing an additional 1,134,306 shares during the period. Aberdeen Group plc owned 0.12% of CSX worth $64,055,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CSX. Dimensional Fund Advisors LP boosted its holdings in CSX by 11.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 18,742,431 shares of the transportation company's stock worth $551,540,000 after buying an additional 1,856,322 shares during the last quarter. Horizon Investments LLC lifted its position in shares of CSX by 3.7% in the first quarter. Horizon Investments LLC now owns 33,590 shares of the transportation company's stock valued at $989,000 after acquiring an additional 1,213 shares in the last quarter. FCA Corp TX boosted its stake in shares of CSX by 0.4% in the first quarter. FCA Corp TX now owns 119,866 shares of the transportation company's stock worth $3,528,000 after acquiring an additional 527 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in CSX by 33.3% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 210,063 shares of the transportation company's stock valued at $6,182,000 after purchasing an additional 52,500 shares during the last quarter. Finally, William B. Walkup & Associates Inc. raised its stake in CSX by 7.5% in the 1st quarter. William B. Walkup & Associates Inc. now owns 27,573 shares of the transportation company's stock valued at $811,000 after purchasing an additional 1,912 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company's stock.

CSX Trading Down 0.2%

CSX stock traded down $0.0650 during mid-day trading on Thursday, hitting $35.9250. 2,893,763 shares of the company were exchanged, compared to its average volume of 16,206,612. CSX Corporation has a 12-month low of $26.22 and a 12-month high of $37.25. The firm has a market capitalization of $66.97 billion, a P/E ratio of 22.17, a PEG ratio of 2.73 and a beta of 1.25. The business has a fifty day simple moving average of $34.21 and a 200-day simple moving average of $31.64. 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 (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. CSX had a return on equity of 25.48% and a net margin of 21.92%.The company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the company earned $0.49 earnings per share. The firm's quarterly revenue was down 3.5% compared to the same quarter last year. On average, equities research analysts predict that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm 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 yield of 1.4%. CSX's dividend payout ratio is 32.10%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CSX shares. Robert W. Baird raised their price target on shares of CSX from $38.00 to $44.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Barclays increased their price target on CSX from $36.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. boosted their price objective on CSX from $34.00 to $41.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $35.00 target price on shares of CSX in a research note on Monday, June 2nd. Finally, Wells Fargo & Company lifted their price target on CSX from $35.00 to $37.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $37.00.

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.