CSX Corporation (NASDAQ:CSX) Shares Acquired by National Pension Service

Key Points

• National Pension Service increased its stake in CSX Corporation by 11.1%, acquiring 535,663 additional shares, bringing its total ownership to 5,368,009 shares valued at approximately $158 million.
• Analysts have a consensus rating of "Moderate Buy" for CSX, with target prices ranging from $35 to $44, indicating positive market sentiment for the stock.
• CSX recently announced a quarterly dividend of $0.13 per share, with an annualized yield of 1.4%, showcasing the company's commitment to returning value to shareholders.

National Pension Service grew its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 11.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,368,009 shares of the transportation company's stock after buying an additional 535,663 shares during the quarter. National Pension Service owned 0.29% of CSX worth $157,981,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in CSX. Marshall & Sterling Wealth Advisors Inc. bought a new stake in CSX during the 4th quarter worth about $27,000. Rossby Financial LCC bought a new stake in CSX during the 1st quarter worth about $28,000. Accredited Wealth Management LLC bought a new stake in CSX during the 4th quarter worth about $29,000. Fourth Dimension Wealth LLC bought a new stake in CSX during the 4th quarter worth about $29,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in CSX during the 1st quarter worth about $30,000. Institutional investors and hedge funds own 73.57% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on CSX shares. Wall Street Zen raised shares of CSX from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Argus set a $32.00 price objective on shares of CSX in a report on Friday, April 25th. BMO Capital Markets increased their price objective on shares of CSX from $36.00 to $38.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Robert W. Baird upped their target price on shares of CSX from $38.00 to $44.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, Bank of America upgraded shares of CSX from a "neutral" rating to a "buy" rating and upped their target price for the company from $34.00 to $42.00 in a research report on Thursday, July 17th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

CSX Price Performance

CSX stock traded down $0.03 during midday trading on Friday, reaching $36.32. The company had a trading volume of 17,898,133 shares, compared to its average volume of 21,141,444. The company has a market capitalization of $67.71 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 2.71 and a beta of 1.25. The stock has a 50 day moving average price of $33.98 and a 200-day moving average price of $31.57. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.10. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63.

CSX (NASDAQ:CSX - Get Free Report) last released its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. The firm had revenue of $3.57 billion for 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 business's revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 earnings per share. Equities research analysts expect that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The company 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. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 29th. CSX's dividend payout ratio 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.