Mackenzie Financial Corp Raises Holdings in CSX Corporation (NASDAQ:CSX)

Key Points

• Mackenzie Financial Corp has increased its stake in CSX Corporation by 9.3%, owning a total of 195,254 shares worth approximately $5.75 million.
• CSX reported an EPS of $0.44 for the last quarter, exceeding expectations, but also saw a 3.5% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.13 per share, translating to an annualized dividend of $0.52 and a yield of 1.5%.

Mackenzie Financial Corp raised its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 9.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 195,254 shares of the transportation company's stock after acquiring an additional 16,599 shares during the period. Mackenzie Financial Corp's holdings in CSX were worth $5,746,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of CSX in the fourth quarter worth approximately $27,000. Rossby Financial LCC acquired a new position in shares of CSX in the first quarter worth approximately $28,000. Accredited Wealth Management LLC acquired a new position in shares of CSX in the fourth quarter worth approximately $29,000. Fourth Dimension Wealth LLC acquired a new position in shares of CSX in the fourth quarter worth approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of CSX in the first quarter worth approximately $30,000. Institutional investors own 73.57% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CSX shares. Wall Street Zen raised CSX from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Baird R W raised CSX to a "strong-buy" rating in a research note on Tuesday, July 1st. The Goldman Sachs Group reissued a "neutral" rating and issued a $35.00 price target on shares of CSX in a research note on Monday, June 2nd. Argus set a $32.00 price target on CSX in a research note on Friday, April 25th. Finally, Susquehanna reissued 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

CSX Stock Down 1.5%

CSX stock traded down $0.53 during trading on Friday, hitting $35.01. 19,265,718 shares of the company were exchanged, compared to its average volume of 21,068,458. The business's 50 day moving average is $33.14 and its 200 day moving average is $31.36. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.10. The company has a market capitalization of $65.27 billion, a P/E ratio of 21.61, a PEG ratio of 2.62 and a beta of 1.25. 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 (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating 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 business's revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 EPS. Analysts predict that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, August 29th. CSX's dividend payout ratio is 32.10%.

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.