Cbre Investment Management Listed Real Assets LLC Acquires 425,395 Shares of CSX Corporation $CSX

Key Points

• CBRE Investment Management Listed Real Assets LLC boosted its CSX stake by 81.9%, purchasing 425,395 shares to hold 944,946 shares worth $33.56 million (about 0.05% of the company).
• CSX missed quarterly estimates with EPS of $0.39 versus $0.41 expected and revenue of $3.51B versus $3.59B, while the sell‑side consensus is a Moderate Buy with a $40.19 price target.
• CEO Stephen F. Angel bought 25,000 shares at about $40.27, insiders have net sold 188,123 shares over the last 90 days, and CSX raised its quarterly dividend to $0.14 (annual $0.56, yield 1.4%).

Cbre Investment Management Listed Real Assets LLC raised its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 81.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 944,946 shares of the transportation company's stock after purchasing an additional 425,395 shares during the period. Cbre Investment Management Listed Real Assets LLC owned 0.05% of CSX worth $33,555,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Rhumbline Advisers increased its stake in shares of CSX by 0.3% during the third quarter. Rhumbline Advisers now owns 3,450,199 shares of the transportation company's stock valued at $122,516,000 after buying an additional 8,639 shares during the period. Captrust Financial Advisors lifted its stake in CSX by 0.8% in the second quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company's stock worth $13,242,000 after acquiring an additional 3,162 shares during the period. Cohen Capital Management Inc. boosted its holdings in CSX by 0.4% in the third quarter. Cohen Capital Management Inc. now owns 278,373 shares of the transportation company's stock valued at $9,885,000 after acquiring an additional 1,100 shares in the last quarter. Rathbones Group PLC increased its position in CSX by 20.6% during the 3rd quarter. Rathbones Group PLC now owns 207,454 shares of the transportation company's stock valued at $7,367,000 after purchasing an additional 35,403 shares during the period. Finally, Miller Howard Investments Inc. NY increased its position in CSX by 1.3% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 207,368 shares of the transportation company's stock valued at $7,364,000 after purchasing an additional 2,728 shares during the period. Hedge funds and other institutional investors own 73.57% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Raymond James Financial raised their target price on shares of CSX from $40.00 to $41.00 and gave the stock an "outperform" rating in a research report on Friday, January 23rd. Deutsche Bank Aktiengesellschaft increased their price target on shares of CSX from $40.00 to $43.00 and gave the stock a "buy" rating in a research note on Thursday, December 11th. Sanford C. Bernstein restated a "market perform" rating and issued a $36.00 price objective (down from $37.00) on shares of CSX in a report on Friday, January 23rd. Susquehanna reaffirmed a "neutral" rating and set a $39.00 price objective on shares of CSX in a research report on Friday, January 23rd. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of CSX in a report on Monday, December 29th. Nineteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, CSX currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.19.

CSX Stock Down 1.4%

Shares of CSX stock opened at $40.34 on Thursday. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $43.35. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.81 and a quick ratio of 0.69. The company has a 50-day moving average of $39.03 and a 200 day moving average of $36.40. The firm has a market cap of $75.01 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 2.09 and a beta of 1.27.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Thursday, January 22nd. The transportation company reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). CSX had a net margin of 20.50% and a return on equity of 23.88%. The business had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the prior year, the business posted $0.42 EPS. CSX's revenue for the quarter was down .9% on a year-over-year basis. As a group, sell-side analysts anticipate that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a dividend of $0.14 per share. This is a boost from CSX's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. CSX's dividend payout ratio is 36.36%.

Insider Buying and Selling at CSX

In related news, CEO Stephen F. Angel bought 25,000 shares of the company's stock in a transaction on Friday, March 6th. The shares were acquired at an average cost of $40.27 per share, with a total value of $1,006,750.00. Following the completion of the acquisition, the chief executive officer owned 146,540 shares of the company's stock, valued at $5,901,165.80. The trade was a 20.57% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Diana B. Sorfleet sold 90,000 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $41.56, for a total value of $3,740,400.00. Following the completion of the sale, the chief accounting officer directly owned 165,613 shares in the company, valued at approximately $6,882,876.28. This represents a 35.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 188,123 shares of company stock worth $7,454,854. 0.55% of the stock is owned by insiders.

CSX Company Profile

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX's freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.

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