CSX Corporation (NASDAQ:CSX) Stock Holdings Increased by E Fund Management Co. Ltd.

Key Points

• E Fund Management Co. Ltd. increased its ownership in CSX Corporation by 93.9%, acquiring a total of 53,281 shares valued at approximately $1.57 million at the end of the first quarter.
• CSX recently announced a quarterly dividend of $0.13 per share, representing an annualized dividend yield of 1.4%, with the payment date set for September 15th.
• The company's latest earnings report revealed earnings per share of $0.44, exceeding analysts' expectations, despite a 3.5% decline in year-over-year revenue.

E Fund Management Co. Ltd. boosted its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 93.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 53,281 shares of the transportation company's stock after purchasing an additional 25,806 shares during the period. E Fund Management Co. Ltd.'s holdings in CSX were worth $1,568,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CSX. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of CSX in the fourth quarter worth $27,000. Accredited Wealth Management LLC purchased a new stake in shares of CSX during the 4th quarter worth $29,000. Fourth Dimension Wealth LLC purchased a new stake in shares of CSX during the 4th quarter worth $29,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of CSX during the 1st quarter worth $30,000. Finally, Rossby Financial LCC purchased a new stake in shares of CSX during the 1st quarter worth $28,000. Institutional investors and hedge funds own 73.57% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CSX. Citigroup boosted their price target on shares of CSX from $36.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Wells Fargo & Company upped their target price on shares of CSX from $35.00 to $37.00 and gave the company an "equal weight" rating in a report on Thursday, July 24th. Argus set a $32.00 target price on shares of CSX in a report on Friday, April 25th. Wall Street Zen raised shares of CSX from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Benchmark upped their target price on shares of CSX from $37.00 to $40.00 and gave the company a "buy" rating in a 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 stock. Based on data from MarketBeat, CSX currently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

CSX Trading Down 0.1%

Shares of CSX stock traded down $0.03 during mid-day trading on Friday, reaching $36.32. The company's stock had a trading volume of 17,898,133 shares, compared to its average volume of 21,141,444. The company's 50 day simple moving average is $33.98 and its 200-day simple moving average is $31.57. CSX Corporation has a 12-month low of $26.22 and a 12-month high of $37.10. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $67.71 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 2.71 and a beta of 1.25.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. The business had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. The business's revenue was down 3.5% on a year-over-year basis. During the same period last year, the business earned $0.49 EPS. On average, research analysts predict that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors 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 yield of 1.4%. CSX's dividend payout ratio (DPR) 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.