CSX Corporation (NASDAQ:CSX) Position Raised by ING Groep NV

Key Points

• ING Groep NV has increased its stake in CSX Corporation by 50.7%, acquiring an additional 64,152 shares, bringing its total holdings to 190,764 shares valued at approximately $5.6 million.
• Several other institutional investors have also increased their stakes in CSX, with 73.57% of the stock now owned by institutional investors.
• CSX announced a quarterly dividend of $0.13 per share, resulting in an annualized dividend yield of 1.5%, with a payout ratio of 32.10%.

ING Groep NV grew its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 50.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 190,764 shares of the transportation company's stock after acquiring an additional 64,152 shares during the period. ING Groep NV's holdings in CSX were worth $5,614,000 as of its most recent SEC filing.

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

CSX Stock Performance

Shares of CSX stock traded up $0.18 on Friday, reaching $35.43. 10,864,400 shares of the company were exchanged, compared to its average volume of 21,548,876. The firm has a market cap of $66.05 billion, a price-to-earnings ratio of 21.87, a P/E/G ratio of 2.63 and a beta of 1.25. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.10. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. The company's 50-day moving average is $33.56 and its two-hundred day moving average is $31.47.

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

CSX Dividend Announcement

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 1.5%. CSX's dividend payout ratio (DPR) is currently 32.10%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CSX shares. TD Cowen raised CSX from a "hold" rating to a "buy" rating and lifted their target price for the stock from $32.00 to $45.00 in a research report on Monday, July 21st. Argus set a $32.00 price objective on CSX in a report on Friday, April 25th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $35.00 target price on shares of CSX in a research report on Monday, June 2nd. Benchmark raised their price target on shares of CSX from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Susquehanna restated a "neutral" rating and issued a $35.00 price target on shares of CSX in a research note on Tuesday, June 24th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $37.00.

CSX Company 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.