Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 52,500 Shares of CSX Corporation $CSX

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in CSX Corporation by 33.3%, acquiring an additional 52,500 shares, bringing its total to 210,063 shares valued at $6.18 million.
• CSX's latest earnings report revealed an EPS of $0.44 for the quarter, exceeding analysts' expectations, despite a 3.5% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.13 per share, with an annualized yield of 1.4%, set to be paid on September 15th to shareholders of record as of August 29th.

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 33.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 210,063 shares of the transportation company's stock after purchasing an additional 52,500 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in CSX were worth $6,182,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of CSX in the 4th quarter valued at approximately $27,000. Rossby Financial LCC acquired a new position in CSX during the 1st quarter worth approximately $28,000. Accredited Wealth Management LLC bought a new position in CSX in the 4th quarter valued at approximately $29,000. Fourth Dimension Wealth LLC acquired a new stake in CSX in the fourth quarter valued at approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in shares of CSX during the first quarter worth $30,000. 73.57% of the stock is currently owned by institutional investors.

CSX Trading Up 1.5%

NASDAQ:CSX traded up $0.53 on Tuesday, reaching $36.52. 42,850,136 shares of the stock traded hands, compared to its average volume of 16,288,676. The firm has a market capitalization of $68.08 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 2.71 and a beta of 1.25. The company's 50 day moving average is $34.06 and its 200-day moving average is $31.57. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.25.

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

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, August 29th. CSX's payout ratio is 32.10%.

Analysts Set New Price Targets

CSX has been the topic of a number of research reports. Argus set a $32.00 target price on shares of CSX in a research note on Friday, April 25th. BMO Capital Markets cut CSX from an "outperform" rating to a "market perform" rating and set a $38.00 target price for the company. in a report on Monday. JPMorgan Chase & Co. increased their target price on CSX from $34.00 to $41.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $36.00 price objective (up previously from $33.00) on shares of CSX in a research note on Tuesday, July 8th. Finally, Robert W. Baird raised their price objective on shares of CSX from $38.00 to $44.00 and gave the company an "outperform" rating in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.

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.