Intact Investment Management Inc. acquired a new stake in CSX Corporation (NASDAQ:CSX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 213,500 shares of the transportation company's stock, valued at approximately $6,283,000.
Several other hedge funds have also recently bought and sold shares of the company. Portside Wealth Group LLC grew its stake in CSX by 1.3% during the 1st quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company's stock valued at $804,000 after purchasing an additional 361 shares in the last quarter. Ullmann Wealth Partners Group LLC raised its position in shares of CSX by 1.3% in the 1st quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company's stock valued at $862,000 after purchasing an additional 363 shares in the last quarter. Family Legacy Inc. boosted its stake in shares of CSX by 0.6% during the 4th quarter. Family Legacy Inc. now owns 68,009 shares of the transportation company's stock valued at $2,190,000 after buying an additional 375 shares during the last quarter. Patrick M Sweeney & Associates Inc. grew its position in shares of CSX by 1.2% during the first quarter. Patrick M Sweeney & Associates Inc. now owns 32,205 shares of the transportation company's stock worth $948,000 after buying an additional 378 shares in the last quarter. Finally, Faithward Advisors LLC increased its stake in shares of CSX by 1.7% in the fourth quarter. Faithward Advisors LLC now owns 23,841 shares of the transportation company's stock worth $769,000 after buying an additional 392 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company's stock.
Analyst Ratings Changes
A number of research analysts have commented on the stock. BMO Capital Markets reduced their price objective on shares of CSX from $36.00 to $35.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Barclays dropped their target price on shares of CSX from $35.00 to $31.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Raymond James Financial reaffirmed an "outperform" rating and set a $33.00 price objective (down previously from $34.00) on shares of CSX in a research report on Thursday, April 17th. Stifel Nicolaus cut their target price on shares of CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Royal Bank Of Canada decreased their target price on CSX from $31.00 to $30.00 and set a "sector perform" rating for the company in a research note on Thursday, April 17th. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.14.
Check Out Our Latest Stock Analysis on CSX
CSX Price Performance
Shares of NASDAQ CSX traded up $0.01 during mid-day trading on Wednesday, reaching $32.49. The company had a trading volume of 11,235,069 shares, compared to its average volume of 13,308,003. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.10. The stock has a market cap of $61.03 billion, a PE ratio of 19.46, a P/E/G ratio of 2.85 and a beta of 1.24. 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 company has a 50-day moving average price of $30.34 and a two-hundred day moving average price of $31.07.
CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 EPS 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 firm had revenue of $3.42 billion for the quarter, compared to analysts' expectations of $3.53 billion. On average, equities analysts anticipate that CSX Corporation will post 1.83 earnings per share for the current year.
CSX Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Friday, May 30th. CSX's payout ratio is 31.14%.
CSX Profile
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Free Report)
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.
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