Baird Financial Group Inc. Boosts Holdings in CSX Corporation $CSX

Key Points

• Baird Financial Group Inc. has increased its holdings in CSX Corporation by 7.2%, owning 414,610 shares valued at approximately $12.2 million following its recent purchase.
• CSX Corporation reported a quarterly EPS of $0.44, surpassing analyst expectations, though revenue was down 3.5% year-over-year amidst volatile market conditions.
• The company announced a quarterly dividend of $0.13, translating to an annualized yield of 1.6%, to be paid to shareholders of record on August 29th.

Baird Financial Group Inc. raised its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 7.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 414,610 shares of the transportation company's stock after buying an additional 27,713 shares during the period. Baird Financial Group Inc.'s holdings in CSX were worth $12,202,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CSX. Rossby Financial LCC bought a new position in CSX in the 1st quarter worth $28,000. Fourth Dimension Wealth LLC bought a new position in CSX in the 4th quarter worth $29,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of CSX in the 1st quarter worth about $30,000. Kessler Investment Group LLC bought a new position in shares of CSX in the 1st quarter worth about $32,000. Finally, Cornerstone Planning Group LLC increased its stake in shares of CSX by 45.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 1,414 shares of the transportation company's stock worth $39,000 after acquiring an additional 444 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

CSX Stock Performance

Shares of NASDAQ CSX traded down $0.15 during trading on Monday, reaching $32.39. 3,191,224 shares of the company traded hands, compared to its average volume of 16,909,666. The firm has a 50 day simple moving average of $34.35 and a 200-day simple moving average of $31.62. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $60.37 billion, a PE ratio of 19.98, a P/E/G ratio of 2.43 and a beta of 1.25. CSX Corporation has a 52-week low of $26.22 and a 52-week high of $37.25.

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

CSX Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Bank of America upgraded shares of CSX from a "neutral" rating to a "buy" rating and increased their price target for the stock from $34.00 to $42.00 in a research note on Thursday, July 17th. Susquehanna reiterated a "neutral" rating and issued a $35.00 price target on shares of CSX in a research note on Tuesday, June 24th. TD Cowen upgraded shares of CSX from a "hold" rating to a "buy" rating and increased their price target for the stock from $32.00 to $45.00 in a research note on Monday, July 21st. The Goldman Sachs Group reiterated a "neutral" rating and issued a $35.00 price target on shares of CSX in a research note on Monday, June 2nd. Finally, Robert W. Baird increased their price target on shares of CSX from $38.00 to $44.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, CSX presently has an average rating of "Moderate Buy" and an average target price of $37.00.

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.