IFM Investors Pty Ltd Purchases 23,077 Shares of CSX Corporation (NASDAQ:CSX)

IFM Investors Pty Ltd raised its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 4.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 576,247 shares of the transportation company's stock after purchasing an additional 23,077 shares during the quarter. IFM Investors Pty Ltd's holdings in CSX were worth $16,959,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of CSX in the fourth quarter valued at approximately $27,000. 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 acquired a new stake in shares of CSX in the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of CSX in the fourth quarter valued at approximately $31,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in CSX during the 1st quarter worth $30,000. Institutional investors and hedge funds own 73.57% of the company's stock.

CSX Price Performance

NASDAQ CSX traded down $0.18 on Friday, hitting $33.43. 5,638,784 shares of the company's stock were exchanged, compared to its average volume of 13,318,513. The stock has a 50-day moving average of $31.20 and a 200-day moving average of $31.06. The company has a current ratio of 0.88, a quick ratio of 0.75 and a debt-to-equity ratio of 1.52. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.10. The stock has a market cap of $62.80 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 2.94 and a beta of 1.23.

CSX (NASDAQ:CSX - Get Free Report) last released its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 26.42% and a net margin of 22.66%. The business had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. Analysts expect that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Friday, May 30th. CSX's payout ratio is presently 31.14%.

Wall Street Analyst Weigh In

A number of research firms have commented on CSX. Baird R W raised shares of CSX to a "strong-buy" rating in a report on Tuesday, July 1st. Citigroup cut their price objective on shares of CSX from $39.00 to $36.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Jefferies Financial Group lowered their price objective on shares of CSX from $37.00 to $33.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Barclays lowered their price objective on shares of CSX from $35.00 to $31.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, Evercore ISI decreased their price target on shares of CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $34.14.

CSX 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.