Deutsche Bank AG Invests $685.42 Million in CSX Corporation $CSX

Deutsche Bank AG acquired a new position in CSX Corporation (NASDAQ:CSX - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 14,420,749 shares of the transportation company's stock, valued at approximately $685,418,000. Deutsche Bank AG owned approximately 0.78% of CSX at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in CSX in the second quarter worth approximately $950,325,000. Cohen & Steers Inc. increased its position in shares of CSX by 1.2% during the 4th quarter. Cohen & Steers Inc. now owns 8,282,107 shares of the transportation company's stock valued at $300,226,000 after purchasing an additional 98,977 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of CSX in the 2nd quarter worth $224,809,000. Captrust Financial Advisors raised its stake in shares of CSX by 4.4% in the 4th quarter. Captrust Financial Advisors now owns 423,312 shares of the transportation company's stock worth $15,345,000 after buying an additional 18,025 shares in the last quarter. Finally, Miller Howard Investments Inc. NY lifted its holdings in shares of CSX by 6.8% in the first quarter. Miller Howard Investments Inc. NY now owns 238,817 shares of the transportation company's stock valued at $9,803,000 after buying an additional 15,310 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Up 0.8%

Shares of CSX stock opened at $50.58 on Tuesday. CSX Corporation has a 12-month low of $31.80 and a 12-month high of $53.60. The firm has a market capitalization of $93.70 billion, a PE ratio of 29.24, a price-to-earnings-growth ratio of 2.29 and a beta of 1.21. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. The stock's fifty day moving average is $49.08 and its 200-day moving average is $44.83.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.02. The business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.CSX's revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the company posted $0.44 EPS. Equities analysts anticipate that CSX Corporation will post 2 earnings per share for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX's dividend payout ratio (DPR) is presently 32.37%.

Insider Activity

In related news, Director John J. Zillmer sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total value of $464,500.00. Following the completion of the sale, the director owned 353,714 shares in the company, valued at approximately $16,430,015.30. This represents a 2.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael S. Burns sold 13,000 shares of the firm's stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $52.68, for a total transaction of $684,840.00. Following the completion of the transaction, the senior vice president directly owned 59,643 shares of the company's stock, valued at $3,141,993.24. This represents a 17.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 189,708 shares of company stock valued at $9,132,304. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Barclays reaffirmed an "overweight" rating and set a $60.00 target price (up from $55.00) on shares of CSX in a research note on Thursday, July 23rd. Bank of America boosted their price target on shares of CSX from $53.00 to $56.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Wall Street Zen downgraded shares of CSX from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Evercore set a $51.00 price objective on shares of CSX in a research note on Thursday, July 23rd. Finally, Citigroup boosted their target price on shares of CSX from $53.00 to $54.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $51.31.

CSX Company Profile

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX's freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.

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