CSX Corporation $CSX Shares Purchased by Federation des caisses Desjardins du Quebec

Key Points

• Federation des caisses Desjardins du Quebec increased its stake in CSX Corporation by 15.1%, acquiring an additional 29,524 shares, which brought its total to 224,784 shares worth approximately $6.6 million.
• Multiple institutional investors have also boosted their holdings in CSX, with overall institutional ownership standing at 73.57% of the company's stock.
• CSX reported $0.44 earnings per share (EPS) for the last quarter, surpassing analyst expectations, despite a 3.5% decline in revenue compared to the previous year.

Federation des caisses Desjardins du Quebec boosted its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 15.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 224,784 shares of the transportation company's stock after acquiring an additional 29,524 shares during the period. Federation des caisses Desjardins du Quebec's holdings in CSX were worth $6,615,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Nuveen LLC bought a new stake in shares of CSX during the first quarter valued at approximately $182,550,000. Bank of New York Mellon Corp raised its holdings in shares of CSX by 21.6% in the first quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company's stock worth $835,336,000 after buying an additional 5,033,743 shares during the last quarter. Allspring Global Investments Holdings LLC lifted 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 period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in CSX in the 4th quarter valued at $117,133,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of CSX by 12.5% during the 1st quarter. Ameriprise Financial Inc. now owns 23,456,085 shares of the transportation company's stock worth $690,359,000 after purchasing an additional 2,599,518 shares during the period. Institutional investors and hedge funds own 73.57% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CSX. Citigroup boosted their target price on CSX from $36.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. TD Cowen raised shares of CSX from a "hold" rating to a "buy" rating and upped their price target for the company from $32.00 to $45.00 in a report on Monday, July 21st. BMO Capital Markets downgraded shares of CSX from an "outperform" rating to a "market perform" rating and set a $38.00 price target on the stock. in a report on Monday, August 18th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $35.00 price objective on shares of CSX in a report on Monday, June 2nd. Finally, Susquehanna reaffirmed a "neutral" rating and issued a $35.00 target price on shares of CSX in a research note on Tuesday, June 24th. One research 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 company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

CSX Price Performance

Shares of CSX stock traded down $0.10 during trading on Monday, hitting $32.43. The stock had a trading volume of 15,575,550 shares, compared to its average volume of 16,939,430. The firm has a market cap of $60.46 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 2.43 and a beta of 1.25. The business's 50-day moving average is $34.35 and its 200 day moving average is $31.62. 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 12 month low of $26.22 and a 12 month high of $37.25.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, topping 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%. The firm's revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 EPS. As a group, sell-side analysts anticipate that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a $0.13 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.6%. CSX's dividend payout ratio (DPR) is 32.10%.

CSX 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.