Blair William & Co. IL Increases Stock Position in CSX Corporation (NASDAQ:CSX)

Key Points

• Blair William & Co. IL increased its holdings in CSX Corporation by 5.5% during the first quarter, acquiring an additional 8,919 shares to bring its total ownership to 170,528 shares.
• Institutional investors now own 73.57% of CSX's stock, with notable increases from Ameriprise Financial Inc. and Allspring Global Investments Holdings LLC among others during the last quarter.
• CSX's quarterly earnings report showed an EPS of $0.44, exceeding estimates, although revenue decreased by 3.5% year-over-year.

Blair William & Co. IL lifted its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 5.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 170,528 shares of the transportation company's stock after purchasing an additional 8,919 shares during the period. Blair William & Co. IL's holdings in CSX were worth $5,019,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

CSX has been the subject of several research reports. Robert W. Baird lifted their price objective 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. Argus set a $32.00 price objective on CSX in a research note on Friday, April 25th. Wells Fargo & Company upped their target price on CSX from $35.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Wall Street Zen raised CSX from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Deutsche Bank Aktiengesellschaft raised CSX from a "hold" rating to a "buy" rating and set a $40.00 price target for the company in a report on Thursday, July 24th. Seven research 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's stock. According to MarketBeat, CSX currently has an average rating of "Moderate Buy" and an average price target of $37.00.

CSX Stock Performance

CSX traded up $0.18 during trading on Friday, reaching $35.43. The company's stock had a trading volume of 10,864,400 shares, compared to its average volume of 15,981,408. 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's fifty day moving average price is $33.49 and its 200-day moving average price is $31.46. The company has a market capitalization of $66.05 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 2.69 and a beta of 1.25. CSX Corporation has a 52-week low of $26.22 and a 52-week high of $37.10.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. The company had revenue of $3.57 billion during 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 company's revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the firm earned $0.49 EPS. On average, equities analysts forecast that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

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

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.