Banque Cantonale Vaudoise Buys Shares of 47,636 CSX Corporation (NASDAQ:CSX)

Key Points

• Banque Cantonale Vaudoise has acquired 47,636 shares of CSX Corporation, valued at approximately $1.4 million, indicating positive institutional interest in the transportation sector.
• CSX reported a Q2 earnings per share of $0.44, which beat estimates and reflects a net margin of 21.92%, despite a 3.5% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.13 per share, demonstrating a dividend yield of 1.47% and a payout ratio of 32.10%.

Banque Cantonale Vaudoise bought a new stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 47,636 shares of the transportation company's stock, valued at approximately $1,402,000.

Several other institutional investors have also added to or reduced their stakes in CSX. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of CSX in the 4th quarter worth $27,000. Rossby Financial LCC purchased a new position in shares of CSX in the 1st quarter worth $28,000. Accredited Wealth Management LLC purchased a new position in shares of CSX in the 4th quarter worth $29,000. Fourth Dimension Wealth LLC purchased a new position in shares of CSX in the 4th quarter worth $29,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in shares of CSX in the 1st quarter worth $30,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CSX has been the topic of a number of research reports. Evercore ISI dropped their price target on CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Citigroup raised their target price on CSX from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Wall Street Zen raised CSX from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. UBS Group decreased their target price on CSX from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, TD Cowen raised CSX from a "hold" rating to a "buy" rating and raised their target price for the stock from $32.00 to $45.00 in a report on Monday, July 21st. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, CSX currently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

CSX Price Performance

Shares of CSX stock traded down $0.53 during trading hours on Friday, hitting $35.01. The stock had a trading volume of 19,265,718 shares, compared to its average volume of 20,105,130. The stock has a market capitalization of $65.27 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 2.62 and a beta of 1.25. CSX Corporation has a one year low of $26.22 and a one year high of $37.10. 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 stock's 50-day moving average price is $33.14 and its two-hundred day moving average price is $31.38.

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

CSX Dividend Announcement

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 given a $0.13 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.52 annualized dividend and a yield of 1.5%. CSX's dividend payout ratio (DPR) is currently 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.