CSX Corporation $CSX Shares Acquired by Credit Agricole S A

Key Points

• Credit Agricole S A increased its stake in CSX Corporation by 106.2%, owning 711,603 shares valued at approximately $20.9 million following an acquisition of 366,519 shares in the first quarter.
• CSX has received mixed analyst ratings, with a consensus rating of "Moderate Buy" and a target price of $37.00, although individual ratings range from Strong Buy to Hold.
• The company announced a quarterly dividend of $0.13 per share, with a dividend yield of 1.4%, scheduled for payment on September 15th to stockholders of record on August 29th.

Credit Agricole S A raised its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 106.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 711,603 shares of the transportation company's stock after acquiring an additional 366,519 shares during the period. Credit Agricole S A's holdings in CSX were worth $20,942,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CSX. Associated Banc Corp boosted its position in CSX by 0.9% in the 1st quarter. Associated Banc Corp now owns 40,384 shares of the transportation company's stock valued at $1,189,000 after buying an additional 356 shares during the period. Portside Wealth Group LLC boosted its position in CSX by 1.3% in the 1st quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company's stock valued at $804,000 after buying an additional 361 shares during the period. Ullmann Wealth Partners Group LLC boosted its position in CSX by 1.3% in the 1st quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company's stock valued at $862,000 after buying an additional 363 shares during the period. LRI Investments LLC boosted its position in CSX by 4.8% in the 1st quarter. LRI Investments LLC now owns 8,254 shares of the transportation company's stock valued at $243,000 after buying an additional 375 shares during the period. Finally, Patrick M Sweeney & Associates Inc. boosted its position in CSX by 1.2% in the 1st quarter. Patrick M Sweeney & Associates Inc. now owns 32,205 shares of the transportation company's stock valued at $948,000 after buying an additional 378 shares during the period. Institutional investors and hedge funds own 73.57% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on CSX. Susquehanna reissued a "neutral" rating and issued a $35.00 price target on shares of CSX in a research report on Tuesday, June 24th. BMO Capital Markets cut shares of CSX from an "outperform" rating to a "market perform" rating and set a $38.00 price target for the company. in a research report on Monday. Robert W. Baird raised their price target on shares of CSX from $38.00 to $44.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Raymond James Financial raised their price target 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. Finally, Argus set a $32.00 price target on shares of CSX in a report on Friday, April 25th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, CSX presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

CSX Stock Up 1.5%

Shares of NASDAQ:CSX opened at $36.52 on Wednesday. The company has a market capitalization of $68.08 billion, a PE ratio of 22.54, a P/E/G ratio of 2.69 and a beta of 1.25. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. CSX Corporation has a twelve month low of $26.22 and a twelve month high of $37.25. The firm has a 50 day simple moving average of $34.14 and a 200-day simple moving average of $31.61.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. The business 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 was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 EPS. On average, equities analysts predict that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, August 29th. CSX's payout ratio is currently 32.10%.

About CSX

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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