CCM Investment Group LLC acquired a new position in CSX Corporation (NASDAQ:CSX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 160,667 shares of the transportation company's stock, valued at approximately $4,677,000.
Several other institutional investors have also recently bought and sold shares of the stock. Ameriprise Financial Inc. boosted its stake in shares of CSX by 89.7% in the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company's stock valued at $673,025,000 after purchasing an additional 9,863,587 shares during the last quarter. Nuveen LLC bought a new position in shares of CSX in the 1st quarter valued at about $182,550,000. Fiduciary Management Inc. WI bought a new position in shares of CSX in the 4th quarter valued at about $178,259,000. Bank of New York Mellon Corp boosted its stake in shares of CSX by 21.6% in the 1st quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company's stock valued at $835,336,000 after purchasing an additional 5,033,743 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of CSX by 1,283.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,190,452 shares of the transportation company's stock valued at $123,786,000 after purchasing an additional 3,887,644 shares during the last quarter. Institutional investors own 73.57% of the company's stock.
Analysts Set New Price Targets
CSX has been the topic of several recent research reports. Evercore ISI reduced their target price on shares of CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. BMO Capital Markets upped their price target on CSX from $36.00 to $38.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $35.00 price target on shares of CSX in a research note on Monday, June 2nd. Wall Street Zen raised shares of CSX from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Raymond James Financial upped their price objective on shares of CSX from $33.00 to $37.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $37.00.
View Our Latest Report on CSX
CSX Stock Performance
Shares of CSX stock traded up $0.59 on Tuesday, reaching $35.82. The stock had a trading volume of 20,809,910 shares, compared to its average volume of 20,679,716. 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 firm's 50-day moving average is $33.64 and its two-hundred day moving average is $31.46. The firm has a market capitalization of $66.78 billion, a price-to-earnings ratio of 22.11, a P/E/G ratio of 2.63 and a beta of 1.25. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $37.10.
CSX (NASDAQ:CSX - Get Free Report) last issued its 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. CSX had a net margin of 21.92% and a return on equity of 25.48%. The company had revenue of $3.57 billion for the quarter, compared to analysts' expectations of $3.57 billion. During the same period in the prior year, the firm earned $0.49 EPS. CSX's quarterly revenue was down 3.5% compared to the same quarter last year. On average, research analysts expect that CSX Corporation will post 1.83 EPS for the current fiscal year.
CSX Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, August 29th. CSX's dividend payout ratio is 32.10%.
CSX Profile
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Free Report)
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.
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