Deutsche Bank AG Buys 1,871,813 Shares of CSX Corporation (NASDAQ:CSX)

Key Points

• Deutsche Bank AG increased its stake in CSX Corporation by 23.1%, owning nearly 10 million shares valued at approximately $293 million.
• Several institutional investors, including Bank of New York Mellon Corp and Ameriprise Financial Inc., have also significantly boosted their holdings in CSX during recent quarters.
• CSX announced a quarterly dividend of $0.13 per share, reflecting a 1.5% dividend yield with a payout ratio of 32.10%.

Deutsche Bank AG raised its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 23.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,959,070 shares of the transportation company's stock after buying an additional 1,871,813 shares during the period. Deutsche Bank AG owned about 0.53% of CSX worth $293,095,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CSX. Bank of New York Mellon Corp boosted its position in shares of CSX by 21.6% during the 1st quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company's stock valued at $835,336,000 after purchasing an additional 5,033,743 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of CSX by 3.5% during the 4th quarter. Lazard Asset Management LLC now owns 21,124,807 shares of the transportation company's stock valued at $681,696,000 after purchasing an additional 707,934 shares in the last quarter. Northern Trust Corp boosted its position in shares of CSX by 13.8% during the 4th quarter. Northern Trust Corp now owns 21,097,789 shares of the transportation company's stock valued at $680,826,000 after purchasing an additional 2,550,929 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of CSX by 89.7% during 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 in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of CSX by 7.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 16,886,109 shares of the transportation company's stock valued at $544,904,000 after purchasing an additional 1,215,517 shares in the last quarter. Institutional investors own 73.57% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CSX. Evercore ISI cut their target price on CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Benchmark upped their price target on CSX from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Baird R W raised CSX to a "strong-buy" rating in a research note on Tuesday, July 1st. Wall Street Zen raised CSX from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Wells Fargo & Company increased their price objective on CSX from $35.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, CSX has an average rating of "Moderate Buy" and an average target price of $37.00.

CSX Price Performance

Shares of NASDAQ CSX opened at $35.25 on Friday. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.10. The stock has a fifty day simple moving average of $33.49 and a two-hundred day simple moving average of $31.46. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. The firm has a market cap of $65.72 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 2.69 and a beta of 1.25.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. CSX had a return on equity of 25.48% and a net margin of 21.92%. The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter last year, the business posted $0.49 earnings per share. The firm's revenue was down 3.5% compared to the same quarter last year. Analysts anticipate that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a $0.13 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.5%. CSX's payout ratio 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.

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