China Universal Asset Management Co. Ltd. lifted its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 49.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,795 shares of the transportation company's stock after purchasing an additional 15,412 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in CSX were worth $1,377,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of CSX during the 4th quarter worth approximately $27,000. Accredited Wealth Management LLC bought a new position in shares of CSX during the 4th quarter worth approximately $29,000. Fourth Dimension Wealth LLC bought a new position in shares of CSX during the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. bought a new position in shares of CSX during the 4th quarter worth approximately $31,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in shares of CSX during the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 73.57% of the company's stock.
Wall Street Analyst Weigh In
CSX has been the subject of several analyst reports. Evercore ISI cut their target price on CSX from $35.00 to $33.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Argus set a $32.00 target price on CSX in a report on Friday, April 25th. Barclays boosted their target price on CSX from $31.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday. Jefferies Financial Group cut their target price on CSX from $37.00 to $33.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, Wells Fargo & Company increased their target price on CSX from $28.00 to $35.00 and gave the company an "equal weight" rating in a research note on Monday. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $34.64.
Check Out Our Latest Analysis on CSX
CSX Stock Performance
Shares of CSX traded up $0.65 during trading hours on Friday, hitting $34.19. The company had a trading volume of 14,183,516 shares, compared to its average volume of 13,314,614. The firm has a market cap of $64.22 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 2.93 and a beta of 1.23. The business has a fifty day moving average of $31.62 and a 200-day moving average of $31.10. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $37.10. The company has a quick ratio of 0.75, a current ratio of 0.88 and a debt-to-equity ratio of 1.52.
CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). The firm had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. CSX had a return on equity of 26.42% and a net margin of 22.66%. Equities analysts anticipate that CSX Corporation will post 1.83 EPS for the current fiscal year.
CSX Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, May 30th. This represents a $0.52 annualized dividend and a yield of 1.52%. CSX's payout ratio is currently 31.14%.
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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