CSX Corporation (NASDAQ:CSX) Shares Acquired by National Bank of Canada FI

Key Points

• National Bank of Canada FI increased its stake in CSX Corporation by 34.0% during Q1, owning approximately 1.9 million shares valued at $56.48 million.
• CSX reported $0.44 earnings per share for the last quarter, exceeding the consensus estimate by $0.02, despite a 3.5% year-over-year revenue decline.
• The company declared a quarterly dividend of $0.13, indicating a 1.5% dividend yield and a payout ratio of 32.10%.

National Bank of Canada FI boosted its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 34.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,919,204 shares of the transportation company's stock after purchasing an additional 487,411 shares during the quarter. National Bank of Canada FI owned about 0.10% of CSX worth $56,480,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. bought a new stake in CSX in the 4th quarter valued at about $27,000. Rossby Financial LCC purchased a new stake in CSX in the first quarter worth approximately $28,000. Accredited Wealth Management LLC purchased a new stake in CSX in the fourth quarter worth approximately $29,000. Fourth Dimension Wealth LLC bought a new stake in CSX in the fourth quarter valued at approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in CSX in the first quarter valued at approximately $30,000. 73.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CSX shares. Baird R W raised CSX to a "strong-buy" rating in a research note on Tuesday, July 1st. Sanford C. Bernstein reissued a "market perform" rating and issued a $36.00 target price (up from $33.00) on shares of CSX in a research report on Tuesday, July 8th. Wells Fargo & Company raised their price objective on CSX from $35.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Barclays lifted their target price on CSX from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Benchmark lifted their price objective on CSX from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $37.00.

CSX Stock Down 0.6%

Shares of CSX stock traded down $0.20 on Monday, hitting $35.23. The stock had a trading volume of 14,317,759 shares, compared to its average volume of 20,729,004. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. The company has a market cap of $65.68 billion, a PE ratio of 21.34, a P/E/G ratio of 2.64 and a beta of 1.25. CSX Corporation has a one year low of $26.22 and a one year high of $37.10. The business has a 50 day moving average price of $33.56 and a 200 day moving average price of $31.45.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly 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 company had revenue of $3.57 billion during the quarter, compared to analysts' expectations of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%. The firm's revenue was down 3.5% compared to the same quarter last year. During the same period last year, the business posted $0.49 earnings per share. Research analysts anticipate that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 29th. CSX's dividend payout ratio (DPR) is presently 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.