Graypoint LLC Purchases 18,727 Shares of CSX Corporation (NASDAQ:CSX)

Graypoint LLC increased its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 135.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,568 shares of the transportation company's stock after purchasing an additional 18,727 shares during the quarter. Graypoint LLC's holdings in CSX were worth $958,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in CSX. Geode Capital Management LLC grew its position in CSX by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company's stock valued at $1,339,555,000 after acquiring an additional 726,507 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in CSX by 21.6% in the first 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 buying an additional 5,033,743 shares during the period. Invesco Ltd. increased its holdings in shares of CSX by 13.5% during the fourth quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company's stock valued at $810,076,000 after acquiring an additional 2,977,212 shares in the last quarter. Norges Bank bought a new stake in CSX during the fourth quarter worth $780,194,000. Finally, Lazard Asset Management LLC grew its holdings in CSX by 3.5% during the fourth quarter. Lazard Asset Management LLC now owns 21,124,807 shares of the transportation company's stock worth $681,696,000 after buying an additional 707,934 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company's stock.

CSX Trading Down 0.3%

CSX stock traded down $0.11 during mid-day trading on Friday, hitting $34.39. The company's stock had a trading volume of 24,854,035 shares, compared to its average volume of 13,551,630. The firm has a market capitalization of $64.60 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 3.09 and a beta of 1.23. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.10. The company has a current ratio of 0.88, a quick ratio of 0.75 and a debt-to-equity ratio of 1.52. The stock's fifty day moving average is $32.27 and its two-hundred day moving average is $31.16.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). CSX had a net margin of 22.66% and a return on equity of 26.42%. The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. On average, analysts anticipate that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders 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 dividend on an annualized basis and a yield of 1.51%. CSX's payout ratio is currently 31.14%.

Analyst Ratings Changes

A number of brokerages have recently commented on CSX. Robert W. Baird began coverage on CSX in a research report on Tuesday, July 1st. They set an "outperform" rating and a $38.00 price target on the stock. Raymond James Financial reaffirmed an "outperform" rating and set a $37.00 price target (up previously from $33.00) on shares of CSX in a research report on Tuesday. Jefferies Financial Group dropped their price objective on CSX from $37.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Evercore ISI dropped their price objective on CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Finally, Barclays reissued an "overweight" rating and set a $36.00 price objective (up previously from $31.00) on shares of CSX in a report on Thursday, July 10th. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, CSX currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.14.

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.