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

Several other institutional investors have also made changes to their positions in CSX. Brighton Jones LLC lifted its holdings in shares of CSX by 5.5% during the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company's stock worth $525,000 after acquiring an additional 849 shares during the period. Wellington Management Group LLP lifted its stake in 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 purchasing an additional 15,029 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in CSX by 16.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 3,104,626 shares of the transportation company's stock worth $100,186,000 after purchasing an additional 435,769 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of CSX by 3.0% in the 4th quarter. Bank of Montreal Can now owns 3,596,189 shares of the transportation company's stock valued at $116,049,000 after purchasing an additional 106,319 shares in the last quarter. Finally, FIL Ltd increased its stake in shares of CSX by 13.1% in the 4th quarter. FIL Ltd now owns 1,616,122 shares of the transportation company's stock valued at $52,152,000 after purchasing an additional 186,658 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

CSX Stock Performance

CSX stock traded up $0.18 during mid-day 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 21,548,876. The firm's fifty day moving average price is $33.56 and its two-hundred day moving average price is $31.46. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. CSX Corporation has a 12-month low of $26.22 and a 12-month high of $37.10. The company has a market capitalization of $66.05 billion, a P/E ratio of 21.87, a PEG ratio of 2.64 and a beta of 1.25.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 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 analyst estimates of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. CSX's revenue was down 3.5% compared to the same quarter last year. During the same period last year, the business earned $0.49 earnings per share. Sell-side analysts predict that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid 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 payout ratio is 32.10%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CSX. Benchmark increased their price target on CSX from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Raymond James Financial lifted their price target on CSX from $33.00 to $37.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Citigroup upped their price objective on CSX from $36.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Sanford C. Bernstein restated a "market perform" rating and issued a $36.00 price objective (up from $33.00) on shares of CSX in a report on Tuesday, July 8th. Finally, Wall Street Zen raised CSX from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, CSX has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.

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.