IFM Investors Pty Ltd Boosts Stock Position in CSX Corporation (NASDAQ:CSX)

IFM Investors Pty Ltd increased its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 4.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 576,247 shares of the transportation company's stock after acquiring an additional 23,077 shares during the period. IFM Investors Pty Ltd's holdings in CSX were worth $16,959,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in shares of CSX in the 4th quarter valued at about $780,194,000. Ameriprise Financial Inc. lifted its stake in shares of CSX by 89.7% in the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company's stock valued at $673,025,000 after purchasing an additional 9,863,587 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of CSX by 471.9% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company's stock valued at $217,808,000 after purchasing an additional 5,568,624 shares during the period. Fiduciary Management Inc. WI acquired a new position in shares of CSX in the 4th quarter valued at about $178,259,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of CSX by 1,283.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,190,452 shares of the transportation company's stock valued at $123,786,000 after purchasing an additional 3,887,644 shares during the period. Institutional investors own 73.57% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Baird R W raised CSX to a "strong-buy" rating in a research note on Tuesday, July 1st. Raymond James Financial reaffirmed an "outperform" rating and set a $33.00 price target (down from $34.00) on shares of CSX in a research note on Thursday, April 17th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $35.00 price target on shares of CSX in a research note on Monday, June 2nd. Barclays dropped their price target on CSX from $35.00 to $31.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, Stifel Nicolaus dropped their price target on CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, CSX currently has an average rating of "Moderate Buy" and a consensus price target of $34.45.

CSX Stock Performance

Shares of CSX stock traded down $0.55 during trading on Monday, hitting $33.05. The company's stock had a trading volume of 11,868,762 shares, compared to its average volume of 13,312,701. The company has a market cap of $62.09 billion, a PE ratio of 19.79, a P/E/G ratio of 2.94 and a beta of 1.23. The company has a current ratio of 0.88, a quick ratio of 0.75 and a debt-to-equity ratio of 1.52. The business has a fifty day moving average of $31.20 and a 200-day moving average of $31.05. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.10.

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

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Friday, May 30th. CSX's dividend payout ratio (DPR) is 31.14%.

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.