Dimensional Fund Advisors LP Raises Position in CSX Corporation $CSX

Key Points

• Dimensional Fund Advisors LP increased its stake in CSX Corporation by 11.0%, owning 18,742,431 shares, valued at approximately $551.54 million.
• Analysts have raised their price objectives for CSX, with a consensus rating of "Moderate Buy" and an average price target of $37.00.
• CSX announced a quarterly dividend of $0.13, with a dividend yield of 1.4%, reflecting a payout ratio of 32.10%.

Dimensional Fund Advisors LP boosted its position in CSX Corporation (NASDAQ:CSX - Free Report) by 11.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,742,431 shares of the transportation company's stock after acquiring an additional 1,856,322 shares during the quarter. Dimensional Fund Advisors LP owned 1.00% of CSX worth $551,540,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CSX. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of CSX during the fourth quarter valued at about $27,000. Accredited Wealth Management LLC purchased a new stake in shares of CSX during the fourth quarter worth about $29,000. Fourth Dimension Wealth LLC purchased a new stake in shares of CSX during the fourth quarter worth about $29,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in CSX in the first quarter worth about $30,000. Finally, Rossby Financial LCC purchased a new stake in CSX in the first quarter worth about $28,000. Institutional investors own 73.57% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CSX shares. Argus set a $32.00 target price on shares of CSX in a report on Friday, April 25th. Robert W. Baird lifted their target price on shares of CSX from $38.00 to $44.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Wells Fargo & Company lifted their target price on shares of CSX from $35.00 to $37.00 and gave the company an "equal weight" rating in a report on Thursday, July 24th. Raymond James Financial lifted their target price on shares of CSX from $33.00 to $37.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Finally, Susquehanna reiterated a "neutral" rating and set a $35.00 target price on shares of CSX in a report on Tuesday, June 24th. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, CSX presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

CSX Stock Performance

NASDAQ:CSX traded down $0.33 during trading hours on Monday, reaching $35.99. The company had a trading volume of 19,415,428 shares, compared to its average volume of 20,793,650. The company has a current ratio of 0.77, a quick ratio of 0.63 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 has a market cap of $67.10 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 2.71 and a beta of 1.25. The firm's 50 day moving average price is $33.98 and its 200-day moving average price is $31.55.

CSX (NASDAQ:CSX - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, topping analysts' consensus estimates 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 firm's revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 EPS. On average, analysts forecast that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, August 29th. CSX's dividend payout ratio (DPR) is currently 32.10%.

About CSX

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.