Assenagon Asset Management S.A. Increases Stake in CSX Co. (NASDAQ:CSX)

Assenagon Asset Management S.A. increased its position in CSX Co. (NASDAQ:CSX - Free Report) by 104.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,578,290 shares of the transportation company's stock after purchasing an additional 2,333,674 shares during the period. Assenagon Asset Management S.A. owned 0.24% of CSX worth $134,739,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in CSX in the fourth quarter worth $27,000. Accredited Wealth Management LLC purchased a new stake in shares of CSX in the fourth quarter worth $29,000. Fourth Dimension Wealth LLC purchased a new stake in shares of CSX in the fourth quarter worth $29,000. SBI Securities Co. Ltd. purchased a new stake in shares of CSX in the fourth quarter worth $31,000. Finally, Sierra Ocean LLC purchased a new stake in shares of CSX in the fourth quarter worth $33,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CSX has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a research note on Friday, March 7th. They issued a "hold" rating and a $34.00 target price on the stock. UBS Group cut their target price on CSX from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Stifel Nicolaus cut their target price on CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada dropped their price objective on CSX from $31.00 to $30.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 17th. Finally, Susquehanna dropped their price objective on CSX from $37.00 to $35.00 and set a "positive" rating on the stock in a research report on Thursday, April 17th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $33.95.

CSX Stock Performance

CSX stock traded up $0.07 during midday trading on Thursday, hitting $32.39. The stock had a trading volume of 9,379,776 shares, compared to its average volume of 13,245,890. The firm's fifty day moving average is $29.63 and its two-hundred day moving average is $31.30. The company has a market capitalization of $60.85 billion, a PE ratio of 18.09, a P/E/G ratio of 1.92 and a beta of 1.24. CSX Co. has a 52-week low of $26.22 and a 52-week high of $37.10. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). CSX had a net margin of 23.95% and a return on equity of 28.15%. The company had revenue of $3.42 billion for the quarter, compared to analysts' expectations of $3.53 billion. On average, research analysts forecast that CSX Co. will post 1.83 EPS for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Friday, May 30th. CSX's dividend payout ratio (DPR) is presently 31.14%.

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.