CSX Corporation (NASDAQ:CSX) Shares Purchased by Ontario Teachers Pension Plan Board

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 raised its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 160.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,211 shares of the transportation company's stock after buying an additional 43,859 shares during the period. Ontario Teachers Pension Plan Board's holdings in CSX were worth $2,096,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CSX. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of CSX during the fourth quarter worth about $27,000. Rossby Financial LCC purchased a new position in shares of CSX during the first quarter worth about $28,000. Accredited Wealth Management LLC purchased a new position in shares of CSX during the fourth quarter worth about $29,000. Fourth Dimension Wealth LLC purchased a new position in shares of CSX during the fourth quarter worth about $29,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in shares of CSX during the first quarter worth about $30,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CSX. TD Cowen raised CSX from a "hold" rating to a "buy" rating and lifted their price objective for the company from $32.00 to $45.00 in a report on Monday, July 21st. Wells Fargo & Company lifted 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. Baird R W raised CSX to a "strong-buy" rating in a report on Tuesday, July 1st. Stifel Nicolaus lowered their price objective on CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Barclays lifted their price objective on CSX from $36.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

CSX Trading Up 1.5%

Shares of CSX stock traded up $0.55 on Tuesday, reaching $35.78. 11,229,728 shares of the stock were exchanged, compared to its average volume of 15,937,378. The stock has a market cap of $66.70 billion, a P/E ratio of 22.08, a price-to-earnings-growth ratio of 2.64 and a beta of 1.25. 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 firm has a 50 day moving average of $33.64 and a two-hundred day moving average of $31.46. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last posted 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 net margin of 21.92% and a return on equity of 25.48%. The firm had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the firm posted $0.49 earnings per share. CSX's revenue for the quarter was down 3.5% compared to the same quarter last year. On average, research analysts anticipate that CSX Corporation will post 1.83 EPS for the current 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 issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, August 29th. CSX's dividend payout ratio is currently 32.10%.

CSX 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.