CSX Corporation $CSX Shares Acquired by Miller Howard Investments Inc. NY

Key Points

• Miller Howard Investments Inc. increased its stake in CSX Corporation by 8.4%, owning 204,640 shares valued at approximately $6.68 million after purchasing additional shares in the 2nd quarter.
• CSX announced a quarterly dividend of $0.13 per share, representing a 1.6% dividend yield, and recorded a net margin of 21.92% for the last quarter.
• Analysts have varied ratings for CSX, with a consensus rating of "Moderate Buy" and an average price target of $37.41 following recent upgrades and downgrades from different firms.

Miller Howard Investments Inc. NY raised its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 8.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 204,640 shares of the transportation company's stock after buying an additional 15,939 shares during the period. Miller Howard Investments Inc. NY's holdings in CSX were worth $6,677,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of CSX by 21.6% during 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 purchasing an additional 5,033,743 shares in the last quarter. Ameriprise Financial Inc. increased its position in CSX by 12.5% during the 1st quarter. Ameriprise Financial Inc. now owns 23,456,085 shares of the transportation company's stock valued at $690,359,000 after purchasing an additional 2,599,518 shares during the period. Northern Trust Corp grew its holdings in CSX by 4.6% in the first quarter. Northern Trust Corp now owns 22,067,356 shares of the transportation company's stock worth $649,442,000 after purchasing an additional 969,567 shares during the period. Dimensional Fund Advisors LP grew its position in CSX by 11.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 18,742,431 shares of the transportation company's stock valued at $551,540,000 after purchasing an additional 1,856,322 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of CSX by 19.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 15,312,107 shares of the transportation company's stock valued at $450,635,000 after acquiring an additional 2,454,895 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company's stock.

CSX Stock Performance

Shares of CSX stock traded up $0.78 during midday trading on Tuesday, hitting $33.98. The company had a trading volume of 13,486,357 shares, compared to its average volume of 16,765,799. CSX Corporation has a 12-month low of $26.22 and a 12-month high of $37.25. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. The stock has a market cap of $63.34 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 2.46 and a beta of 1.25. The company has a fifty day simple moving average of $34.18 and a 200 day simple moving average of $31.70.

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

CSX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.5%. CSX's dividend payout ratio (DPR) is currently 32.10%.

Analyst Upgrades and Downgrades

CSX has been the subject of a number of recent research reports. Wells Fargo & Company raised their target price on shares of CSX from $35.00 to $37.00 and gave the company an "equal weight" rating in a report on Thursday, July 24th. BMO Capital Markets lowered CSX from an "outperform" rating to a "market perform" rating and set a $38.00 price target on the stock. in a research note on Monday, August 18th. Susquehanna reiterated a "neutral" rating and issued a $35.00 target price on shares of CSX in a research report on Tuesday, June 24th. Baird R W raised shares of CSX to a "strong-buy" rating in a report on Tuesday, July 1st. Finally, Robert W. Baird increased their price objective on CSX from $38.00 to $44.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $37.41.

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.