CSX Corporation $CSX Shares Purchased by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its shares in CSX Corporation by 31.5%, owning a total of 496,159 shares valued at approximately $14.6 million at the end of the most recent quarter.
• CSX's stock received multiple analyst upgrades, with Barclays raising its target price from $36.00 to $38.00 and Deutsche Bank upgrading to a "buy" rating with a target price of $40.00.
• The company announced a quarterly dividend of $0.13 per share to shareholders, resulting in a yield of 1.4% and a payout ratio of 32.10%.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 31.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 496,159 shares of the transportation company's stock after purchasing an additional 118,765 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in CSX were worth $14,601,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. purchased a new position in CSX in the 4th quarter worth approximately $27,000. Rossby Financial LCC acquired a new stake in shares of CSX in the first quarter valued at approximately $28,000. Accredited Wealth Management LLC acquired a new stake in shares of CSX in the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC purchased a new position in CSX during the fourth quarter worth approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in CSX during the first quarter worth $30,000. Hedge funds and other institutional investors own 73.57% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $36.00 target price (up from $33.00) on shares of CSX in a research note on Tuesday, July 8th. Barclays raised their price objective on shares of CSX from $36.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft upgraded shares of CSX from a "hold" rating to a "buy" rating and set a $40.00 target price on the stock in a report on Thursday, July 24th. Susquehanna restated a "neutral" rating and set a $35.00 price target on shares of CSX in a report on Tuesday, June 24th. Finally, Argus set a $32.00 price target on shares of CSX in a research report on Friday, April 25th. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $37.00.

CSX Stock Performance

Shares of CSX stock opened at $36.32 on Monday. The firm has a market capitalization of $67.71 billion, a P/E ratio of 22.42, a P/E/G ratio of 2.71 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 $37.10. The firm's 50 day moving average is $33.98 and its two-hundred day moving average is $31.55.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The firm had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period last year, the business earned $0.49 EPS. CSX's revenue for the quarter was down 3.5% compared to the same quarter last year. Research analysts forecast that CSX Corporation will post 1.83 EPS 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 dividend of $0.13 per share. The ex-dividend date is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.4%. CSX's dividend payout ratio (DPR) 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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