University of Texas Texas AM Investment Management Co. Increases Position in CSX Corporation (NASDAQ:CSX)

Key Points

• University of Texas Texas AM Investment Management Co. increased its stake in CSX Corporation by 62.7%, acquiring an additional 46,825 shares, bringing their total to 121,497 shares valued at $3.57 million.
• CSX Corporation reported a quarterly earnings per share (EPS) of $0.44, slightly above the consensus estimate of $0.42, despite a 3.5% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.13, with an annualized yield of 1.45%, paying out to investors of record on August 29th.

University of Texas Texas AM Investment Management Co. lifted its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 62.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 121,497 shares of the transportation company's stock after purchasing an additional 46,825 shares during the quarter. University of Texas Texas AM Investment Management Co.'s holdings in CSX were worth $3,576,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of CSX during the fourth quarter valued at about $27,000. Rossby Financial LCC acquired a new stake in shares of CSX during the first quarter valued at about $28,000. Accredited Wealth Management LLC acquired a new stake in shares of CSX during the fourth quarter valued at about $29,000. Fourth Dimension Wealth LLC acquired a new position in shares of CSX in the fourth quarter worth approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of CSX in the first quarter worth approximately $30,000. 73.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CSX shares. Evercore ISI cut their price objective on CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Barclays lifted their price objective on CSX from $36.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Robert W. Baird lifted their price objective on CSX from $38.00 to $44.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. TD Cowen upgraded CSX from a "hold" rating to a "buy" rating and lifted their target price for the stock from $32.00 to $45.00 in a report on Monday, July 21st. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $35.00 target price on shares of CSX in a report on Monday, June 2nd. Seven investment 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's stock. Based on data from MarketBeat, CSX currently has an average rating of "Moderate Buy" and an average price target of $37.00.

CSX Trading Down 0.3%

NASDAQ:CSX traded down $0.10 during midday trading on Thursday, hitting $35.20. The stock had a trading volume of 7,211,932 shares, compared to its average volume of 15,943,606. CSX Corporation has a one year low of $26.22 and a one year high of $37.10. The company has a market capitalization of $65.61 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 2.65 and a beta of 1.23. The stock has a 50-day moving average of $32.96 and a 200 day moving average of $31.33. 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 (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. The business 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 last year, the firm earned $0.49 EPS. As a group, sell-side analysts forecast that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.13 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 1.48%. 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.