CSX Corporation $CSX Shares Acquired by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in CSX Corporation by 2.1%, now owning about 0.08% of the company, valued at approximately $41.48 million.
• Several institutional investors have significantly raised their stakes in CSX, with Bank of New York Mellon Corp increasing its holdings by 21.6% to own shares worth $835.34 million.
• Analysts remain optimistic with upgrades to CSX's price targets; Barclays raised its target to $38 while Robert W. Baird set it at $44, indicating a consensus rating of "Moderate Buy".

Northwestern Mutual Wealth Management Co. raised its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 2.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,409,436 shares of the transportation company's stock after purchasing an additional 29,170 shares during the quarter. Northwestern Mutual Wealth Management Co. owned about 0.08% of CSX worth $41,480,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CSX. Bank of New York Mellon Corp increased its stake 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 acquiring an additional 5,033,743 shares during the period. Ameriprise Financial Inc. increased its stake in shares of CSX by 12.5% in the first quarter. Ameriprise Financial Inc. now owns 23,456,085 shares of the transportation company's stock worth $690,359,000 after acquiring an additional 2,599,518 shares during the period. Northern Trust Corp increased its stake in shares of CSX by 4.6% in the first quarter. Northern Trust Corp now owns 22,067,356 shares of the transportation company's stock worth $649,442,000 after acquiring an additional 969,567 shares during the period. Lazard Asset Management LLC increased its stake in shares of CSX by 3.5% in the fourth quarter. Lazard Asset Management LLC now owns 21,124,807 shares of the transportation company's stock worth $681,696,000 after acquiring an additional 707,934 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of CSX by 11.0% in the first quarter. Dimensional Fund Advisors LP now owns 18,742,431 shares of the transportation company's stock worth $551,540,000 after acquiring an additional 1,856,322 shares during the period. Institutional investors and hedge funds own 73.57% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on CSX shares. Raymond James Financial increased their price target on shares of CSX from $33.00 to $37.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $36.00 price objective (up from $33.00) on shares of CSX in a report on Tuesday, July 8th. Susquehanna reaffirmed a "neutral" rating and set a $35.00 price objective on shares of CSX in a report on Tuesday, June 24th. Barclays increased their price objective on shares of CSX from $36.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Robert W. Baird increased their price objective on shares of CSX from $38.00 to $44.00 and gave the company an "outperform" rating in a report on Friday, July 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 company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $37.00.

CSX Price Performance

Shares of NASDAQ CSX opened at $34.58 on Monday. The firm has a 50-day simple moving average of $34.33 and a 200-day simple moving average of $31.66. The stock has a market capitalization of $64.47 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 2.58 and a beta of 1.25. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.25.

CSX (NASDAQ:CSX - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. The business had revenue of $3.57 billion during the quarter, compared to analysts' expectations of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. The company's quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.49 earnings per share. On average, equities analysts predict that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm 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. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, August 29th. CSX's dividend payout ratio is 32.10%.

CSX Company 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.

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