Ontario Teachers Pension Plan Board Has $2.10 Million Position in CSX Corporation (NASDAQ:CSX)

Key Points

• The Ontario Teachers Pension Plan Board increased its holdings in CSX Corporation by 160.4% in the first quarter, now owning 71,211 shares valued at approximately $2.10 million.
• CSX's stock is currently valued at $35.25 with a market capitalization of $65.72 billion and a P/E ratio of 21.76, though it experienced a 2.1% decrease recently.
• The company declared a quarterly dividend of $0.13 per share, resulting in a 1.5% dividend yield, with a payout ratio of 32.10%.

Ontario Teachers Pension Plan Board lifted its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 160.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 71,211 shares of the transportation company's stock after purchasing an additional 43,859 shares during the period. Ontario Teachers Pension Plan Board's holdings in CSX were worth $2,096,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Associated Banc Corp grew its holdings in shares of CSX by 0.9% during the first quarter. Associated Banc Corp now owns 40,384 shares of the transportation company's stock worth $1,189,000 after purchasing an additional 356 shares during the last quarter. Portside Wealth Group LLC lifted its stake in shares of CSX by 1.3% during the first quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company's stock valued at $804,000 after acquiring an additional 361 shares during the period. Ullmann Wealth Partners Group LLC lifted its stake in shares of CSX by 1.3% during the first quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company's stock valued at $862,000 after acquiring an additional 363 shares during the period. LRI Investments LLC lifted its stake in shares of CSX by 4.8% during the first quarter. LRI Investments LLC now owns 8,254 shares of the transportation company's stock valued at $243,000 after acquiring an additional 375 shares during the period. Finally, Patrick M Sweeney & Associates Inc. lifted its stake 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 valued at $948,000 after acquiring an additional 378 shares during the period. Institutional investors own 73.57% of the company's stock.

CSX Stock Down 2.1%

CSX stock opened at $35.25 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63. The stock has a market capitalization of $65.72 billion, a P/E ratio of 21.76, a P/E/G ratio of 2.69 and a beta of 1.25. The business has a 50-day moving average of $33.49 and a 200-day moving average of $31.46. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. CSX had a return on equity of 25.48% and a net margin of 21.92%. 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 prior year, the firm posted $0.49 earnings per share. The business's quarterly revenue was down 3.5% compared to the same quarter last year. On average, sell-side analysts anticipate 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 will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 annualized dividend and a yield of 1.5%. CSX's dividend payout ratio is 32.10%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Stifel Nicolaus cut their price target on CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Barclays upped their price target on CSX from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Robert W. Baird upped their price target on CSX from $38.00 to $44.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Bank of America raised CSX from a "neutral" rating to a "buy" rating and upped their price target for the company from $34.00 to $42.00 in a research note on Thursday, July 17th. Finally, Wells Fargo & Company upped their price objective on CSX from $35.00 to $37.00 and gave the company an "equal weight" rating in a report on Thursday, July 24th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.

About CSX

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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