Aigen Investment Management LP Makes New Investment in CSX Corporation (NASDAQ:CSX)

Key Points

• Aigen Investment Management LP has acquired a new position in CSX Corporation, purchasing 124,633 shares valued at approximately $3.67 million.
• Wall Street analysts have varied ratings for CSX, with a consensus rating of "Moderate Buy" and an average price target set at $37.00.
• CSX recently declared a quarterly dividend of $0.13, translating to an annualized yield of 1.5% for investors.

Aigen Investment Management LP acquired a new position in CSX Corporation (NASDAQ:CSX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 124,633 shares of the transportation company's stock, valued at approximately $3,668,000. CSX accounts for approximately 0.6% of Aigen Investment Management LP's investment portfolio, making the stock its 20th biggest holding.

Other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in CSX by 21.6% in the first quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company's stock worth $835,336,000 after purchasing an additional 5,033,743 shares during the period. Lazard Asset Management LLC raised its holdings in shares of CSX by 3.5% in 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 last quarter. Northern Trust Corp raised its holdings in shares of CSX by 13.8% in the fourth quarter. Northern Trust Corp now owns 21,097,789 shares of the transportation company's stock valued at $680,826,000 after buying an additional 2,550,929 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of CSX by 89.7% in the fourth 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 during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in CSX by 7.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,886,109 shares of the transportation company's stock worth $544,904,000 after purchasing an additional 1,215,517 shares during the period. Institutional investors and hedge funds own 73.57% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CSX. Argus set a $32.00 price objective on CSX in a research report on Friday, April 25th. Bank of America upgraded CSX from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $34.00 to $42.00 in a research note on Thursday, July 17th. Wall Street Zen upgraded CSX from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. UBS Group dropped their price objective on CSX from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $35.00 price objective on shares of CSX in a research note on Monday, June 2nd. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $37.00.

CSX Trading Up 1.7%

Shares of CSX traded up $0.59 during mid-day trading on Tuesday, reaching $35.82. 20,809,910 shares of the company were exchanged, compared to its average volume of 20,679,716. The stock has a market capitalization of $66.78 billion, a PE ratio of 22.11, a PEG ratio of 2.63 and a beta of 1.25. The business has a 50 day simple moving average of $33.64 and a two-hundred day simple moving average of $31.46. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, topping 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 business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the previous year, the company posted $0.49 earnings per share. The firm's revenue for the quarter was down 3.5% on a year-over-year basis. On average, analysts predict that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, August 29th. CSX's dividend payout ratio (DPR) is currently 32.10%.

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.