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 stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 157,823 shares of the transportation company's stock, valued at approximately $4,644,000.

Other large investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. grew its position in CSX by 89.7% in the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company's stock worth $673,025,000 after purchasing an additional 9,863,587 shares during the period. Fiduciary Management Inc. WI bought a new stake in CSX in the 4th quarter worth approximately $178,259,000. Bank of New York Mellon Corp grew its position in CSX by 21.6% in 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 period. Allspring Global Investments Holdings LLC grew its position in CSX by 1,283.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,190,452 shares of the transportation company's stock worth $123,786,000 after purchasing an additional 3,887,644 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in CSX in the 4th quarter worth approximately $117,133,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Evercore ISI cut their target price on shares of CSX from $35.00 to $33.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Sanford C. Bernstein reissued a "market perform" rating and set a $36.00 price objective (up previously from $33.00) on shares of CSX in a research report on Tuesday, July 8th. Susquehanna reissued a "neutral" rating and set a $35.00 price objective on shares of CSX in a research report on Tuesday, June 24th. BMO Capital Markets boosted their price objective on shares of CSX from $36.00 to $38.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Finally, TD Cowen raised shares of CSX from a "hold" rating to a "buy" rating and boosted their price objective for the company from $32.00 to $45.00 in a research report on Monday, July 21st. Seven investment 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 a consensus rating of "Moderate Buy" and an average price target of $37.00.

CSX Trading Up 1.8%

Shares of CSX stock traded up $0.62 on Tuesday, hitting $35.85. 10,789,713 shares of the company traded hands, compared to its average volume of 15,930,716. The stock's 50 day moving average price is $33.64 and its 200-day moving average price is $31.46. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.10. The company has a market cap of $66.84 billion, a PE ratio of 22.14, a PEG ratio of 2.64 and a beta of 1.25.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The firm had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the previous year, the firm posted $0.49 earnings per share. The company's revenue was down 3.5% on a year-over-year basis. Equities research analysts predict 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. Investors of record on Friday, August 29th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 29th. CSX's dividend payout ratio (DPR) 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.