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Nuveen LLC Invests $182.55 Million in CSX Corporation (NASDAQ:CSX)

CSX logo with Transportation background

Key Points

  • Nuveen LLC has made a significant investment in CSX Corporation, purchasing approximately $182.55 million worth of shares in the first quarter.
  • Multiple analysts have raised their price targets for CSX, with seven analysts rating the stock as a hold and fifteen giving it a buy rating, reflecting positive market sentiment.
  • CSX has declared a quarterly dividend of $0.13 per share, which is part of an annualized dividend yield of 1.5%.
  • Want stock alerts on CSX? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Nuveen LLC purchased a new position in shares of CSX Corporation (NASDAQ:CSX - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,202,864 shares of the transportation company's stock, valued at approximately $182,550,000. Nuveen LLC owned about 0.33% of CSX as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CSX. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of CSX during the fourth quarter worth approximately $27,000. Rossby Financial LCC acquired a new position in shares of CSX during the first quarter worth approximately $28,000. Accredited Wealth Management LLC acquired a new position in shares of CSX during the fourth quarter worth approximately $29,000. Fourth Dimension Wealth LLC acquired a new position in shares of CSX during 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 valued at $30,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Barclays upped their target price on CSX from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. BMO Capital Markets upped their target price on CSX from $36.00 to $38.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Benchmark upped their target price on CSX from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Raymond James Financial upped their target price on CSX from $33.00 to $37.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Finally, Royal Bank Of Canada restated a "sector perform" rating on shares of CSX in a research note on Thursday, July 24th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $37.00.

Check Out Our Latest Analysis on CSX

CSX Trading Down 0.6%

Shares of CSX opened at $35.23 on Tuesday. The stock's fifty day simple moving average is $33.64 and its 200-day simple moving average is $31.46. The firm has a market capitalization of $65.68 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 2.64 and a beta of 1.25. CSX Corporation has a 12-month low of $26.22 and a 12-month high of $37.10. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly 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. The business had revenue of $3.57 billion for the quarter, compared to analysts' expectations of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%. The firm's quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 earnings per share. As a group, research analysts predict that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued 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%.

CSX Profile

(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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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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