ASR Vermogensbeheer N.V. Makes New $4.64 Million Investment in CSX Corporation (NASDAQ:CSX)

Key Points

• ASR Vermogensbeheer N.V. has made a new investment of approximately $4.64 million in CSX Corporation, acquiring 157,823 shares of the transportation company's stock.
• Multiple hedge funds, including Wellington Management Group LLP and CWA Asset Management Group LLC, have recently increased their stakes in CSX, indicating strong institutional interest.
• Analysts have raised their price targets for CSX, with Deutsche Bank upgrading to a "buy" rating and setting a target of $40.00, while the stock currently has an average price target of $37.00.

ASR Vermogensbeheer N.V. bought 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 bought 157,823 shares of the transportation company's stock, valued at approximately $4,644,000.

Several other hedge funds have also recently bought and sold shares of the stock. Wellington Management Group LLP grew its stake in shares of CSX by 14.7% during the 4th quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company's stock worth $3,794,000 after acquiring an additional 15,029 shares in the last quarter. CWA Asset Management Group LLC grew its stake in shares of CSX by 15.1% in the first quarter. CWA Asset Management Group LLC now owns 12,514 shares of the transportation company's stock valued at $368,000 after buying an additional 1,642 shares in the last quarter. Dynamic Advisor Solutions LLC grew its stake in shares of CSX by 9.8% in the first quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company's stock valued at $1,141,000 after buying an additional 3,458 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of CSX by 61.4% in the first quarter. Farther Finance Advisors LLC now owns 14,154 shares of the transportation company's stock valued at $418,000 after buying an additional 5,382 shares in the last quarter. Finally, Cercano Management LLC bought a new position in shares of CSX in the fourth quarter valued at $4,869,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CSX has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised shares of CSX from a "hold" rating to a "buy" rating and set a $40.00 target price for the company in a research note on Thursday, July 24th. Robert W. Baird raised their target price on shares of CSX from $38.00 to $44.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Barclays raised their target price on shares of CSX from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Baird R W raised shares of CSX to a "strong-buy" rating in a research note on Tuesday, July 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of CSX from $34.00 to $41.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $37.00.

CSX Stock Down 2.1%

CSX opened at $35.25 on Friday. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. The company has a market capitalization of $65.72 billion, a P/E ratio of 21.76, a P/E/G ratio of 2.69 and a beta of 1.25. The stock has a fifty day moving average of $33.49 and a 200-day moving average of $31.46.

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

CSX Announces Dividend

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

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.

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