Deutsche Bank AG Grows Position in 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 holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 23.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,959,070 shares of the transportation company's stock after acquiring an additional 1,871,813 shares during the period. Deutsche Bank AG owned approximately 0.53% of CSX worth $293,095,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Wellington Management Group LLP grew its position in CSX by 14.7% during the 4th quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company's stock worth $3,794,000 after purchasing an additional 15,029 shares during the period. CWA Asset Management Group LLC grew its holdings in CSX by 15.1% during the first quarter. CWA Asset Management Group LLC now owns 12,514 shares of the transportation company's stock worth $368,000 after acquiring an additional 1,642 shares during the period. Dynamic Advisor Solutions LLC raised its position in CSX by 9.8% during the first quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company's stock valued at $1,141,000 after acquiring an additional 3,458 shares in the last quarter. Farther Finance Advisors LLC raised its position in CSX by 61.4% during the first quarter. Farther Finance Advisors LLC now owns 14,154 shares of the transportation company's stock valued at $418,000 after acquiring an additional 5,382 shares in the last quarter. Finally, Cercano Management LLC acquired a new position in CSX in the fourth quarter valued at approximately $4,869,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CSX shares. Citigroup raised their price objective on shares of CSX from $36.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Wells Fargo & Company raised their price target on shares of CSX from $35.00 to $37.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of CSX in a report on Thursday, July 24th. Susquehanna reissued a "neutral" rating and set a $35.00 target price on shares of CSX in a research note on Tuesday, June 24th. Finally, Benchmark raised their target price on CSX from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, CSX currently has an average rating of "Moderate Buy" and an average price target of $37.00.

CSX Price Performance

Shares of NASDAQ:CSX traded up $0.55 during midday trading on Tuesday, hitting $35.78. The company had a trading volume of 11,229,728 shares, compared to its average volume of 15,937,378. CSX Corporation has a twelve month low of $26.22 and a twelve month high of $37.10. The stock has a market cap of $66.70 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 2.64 and a beta of 1.25. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63. The business's 50-day simple moving average is $33.64 and its 200-day simple moving average is $31.46.

CSX (NASDAQ:CSX - Get Free Report) last issued its earnings results 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 business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period last year, the company earned $0.49 EPS. The company's revenue for the quarter was down 3.5% on a year-over-year basis. On average, research analysts predict that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors 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 dividend on an annualized basis and a yield of 1.5%. CSX's dividend payout ratio is currently 32.10%.

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.