Commerzbank Aktiengesellschaft FI Grows Stock Position in CSX Corporation (NASDAQ:CSX)

Commerzbank Aktiengesellschaft FI lifted its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 18.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,948 shares of the transportation company's stock after acquiring an additional 9,829 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in CSX were worth $1,882,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of CSX during the 4th quarter valued at $27,000. Accredited Wealth Management LLC bought a new stake in shares of CSX during the 4th quarter worth about $29,000. Fourth Dimension Wealth LLC bought a new stake in shares of CSX during the 4th quarter worth about $29,000. Barnes Dennig Private Wealth Management LLC bought a new stake in CSX during the first quarter worth approximately $30,000. Finally, Rossby Financial LCC bought a new stake in CSX during the first quarter worth approximately $28,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Performance

Shares of CSX traded down $0.11 during trading hours on Friday, hitting $34.39. The company's stock had a trading volume of 24,854,035 shares, compared to its average volume of 13,576,402. CSX Corporation has a 52-week low of $26.22 and a 52-week high of $37.10. The company has a market cap of $64.60 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 3.08 and a beta of 1.23. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.88 and a quick ratio of 0.75. The business has a 50 day simple moving average of $32.27 and a two-hundred day simple moving average of $31.16.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). CSX had a net margin of 22.66% and a return on equity of 26.42%. The business had revenue of $3.42 billion during the quarter, compared to analysts' expectations of $3.53 billion. On average, equities analysts expect that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business 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 $0.13 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.51%. CSX's dividend payout ratio is 31.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. UBS Group decreased their price target on shares of CSX from $36.00 to $34.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Sanford C. Bernstein reissued a "market perform" rating and issued a $36.00 price objective (up from $33.00) on shares of CSX in a research report on Tuesday, July 8th. Robert W. Baird began coverage on shares of CSX in a report on Tuesday, July 1st. They issued an "outperform" rating and a $38.00 price target for the company. JPMorgan Chase & Co. increased their target price on shares of CSX from $31.00 to $34.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $37.00 target price (up previously from $33.00) on shares of CSX in a research note on Tuesday, July 15th. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, CSX presently has a consensus rating of "Moderate Buy" and an average price target of $35.14.

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.