Amundi Has $364.36 Million Stock Position in CSX Corporation $CSX

Key Points

• Amundi increased its stake in CSX Corporation by 34.5% to own approximately 0.69% of the company, valued at $364.36 million.
• CSX reported a quarterly earnings per share of $0.44, exceeding estimates, but indicated a 3.5% revenue decline from the previous year.
• The company announced a dividend of $0.13 per share, representing an annual yield of 1.6%, to be paid on September 15th.

Amundi lifted its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 34.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,017,397 shares of the transportation company's stock after buying an additional 3,341,136 shares during the quarter. Amundi owned about 0.69% of CSX worth $364,357,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings 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 worth $835,336,000 after purchasing an additional 5,033,743 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of CSX by 12.5% in the 1st quarter. Ameriprise Financial Inc. now owns 23,456,085 shares of the transportation company's stock valued at $690,359,000 after acquiring an additional 2,599,518 shares during the last quarter. Northern Trust Corp increased its stake in shares of CSX by 4.6% in the 1st quarter. Northern Trust Corp now owns 22,067,356 shares of the transportation company's stock valued at $649,442,000 after acquiring an additional 969,567 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of CSX by 3.5% in 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 last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of CSX by 11.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 18,742,431 shares of the transportation company's stock valued at $551,540,000 after acquiring an additional 1,856,322 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Stock Down 0.3%

NASDAQ:CSX traded down $0.10 during trading hours on Monday, reaching $32.43. 15,575,550 shares of the stock were exchanged, compared to its average volume of 16,939,430. CSX Corporation has a twelve month low of $26.22 and a twelve month high of $37.25. The stock has a market cap of $60.46 billion, a PE ratio of 20.02, a PEG ratio of 2.43 and a beta of 1.25. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63. The firm has a 50 day moving average of $34.35 and a 200 day moving average of $31.62.

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 (EPS) 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 company had revenue of $3.57 billion for the quarter, compared to analysts' expectations of $3.57 billion. During the same quarter in the prior year, the business posted $0.49 EPS. The business's revenue was down 3.5% compared to the same quarter last year. On average, equities analysts expect that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

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 issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 annualized dividend and a yield of 1.6%. CSX's dividend payout ratio (DPR) is currently 32.10%.

Analyst Ratings Changes

A number of analysts have recently commented on CSX shares. Barclays upped their price target on CSX from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Raymond James Financial upped their price target on CSX from $33.00 to $37.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $36.00 price target (up from $33.00) on shares of CSX in a research note on Tuesday, July 8th. Benchmark boosted their price objective on CSX from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Bank of America upgraded CSX from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $34.00 to $42.00 in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, CSX currently has an average rating of "Moderate Buy" and an average price target of $37.00.

About CSX

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.