CSX Corporation $CSX Shares Acquired by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in CSX Corporation by 13.3% during Q1, now holding 133,184 shares valued at approximately $3.92 million.
• CSX received multiple upgrades from analysts, with price targets raised; notable upgrades include Bank of America raising its target to $42.00 and TD Cowen to $45.00.
• The company recently announced a quarterly dividend of $0.13 per share, with a dividend yield of 1.6%, reflecting a payout ratio of 32.10%.

Wellington Management Group LLP raised its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 13.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 133,184 shares of the transportation company's stock after buying an additional 15,605 shares during the period. Wellington Management Group LLP's holdings in CSX were worth $3,920,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Aviso Financial Inc. boosted its position in CSX by 13.1% in the 1st quarter. Aviso Financial Inc. now owns 27,482 shares of the transportation company's stock valued at $809,000 after buying an additional 3,191 shares during the period. Northern Trust Corp grew its stake in CSX by 4.6% during the 1st quarter. Northern Trust Corp now owns 22,067,356 shares of the transportation company's stock worth $649,442,000 after purchasing an additional 969,567 shares in the last quarter. Mill Creek Capital Advisors LLC increased its holdings in CSX by 13.0% during the 1st quarter. Mill Creek Capital Advisors LLC now owns 10,942 shares of the transportation company's stock worth $322,000 after purchasing an additional 1,261 shares during the period. Raymond James Financial Inc. raised its position in CSX by 8.6% in the 1st quarter. Raymond James Financial Inc. now owns 2,893,421 shares of the transportation company's stock valued at $85,153,000 after purchasing an additional 229,692 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its position in CSX by 9.5% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 20,764 shares of the transportation company's stock valued at $611,000 after purchasing an additional 1,797 shares in the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Performance

CSX stock traded down $0.06 during midday trading on Wednesday, hitting $32.14. 5,877,852 shares of the company's stock were exchanged, compared to its average volume of 16,994,361. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. The stock has a market cap of $59.91 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 2.43 and a beta of 1.25. CSX Corporation has a 12-month low of $26.22 and a 12-month high of $37.25. The firm's 50 day simple moving average is $34.36 and its 200 day simple moving average is $31.64.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results 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 business's quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 earnings per share. Equities research analysts predict that CSX Corporation will post 1.83 EPS 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 issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.6%. CSX's payout ratio is presently 32.10%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CSX. Baird R W raised shares of CSX to a "strong-buy" rating in a research report on Tuesday, July 1st. Wall Street Zen cut CSX from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Bank of America raised CSX from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $34.00 to $42.00 in a research report on Thursday, July 17th. Wells Fargo & Company increased their price objective on CSX from $35.00 to $37.00 and gave the company an "equal weight" rating in a report on Thursday, July 24th. Finally, Barclays boosted their target price on CSX from $36.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

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.