Oppenheimer Asset Management Inc. Purchases 21,360 Shares of CSX Corporation (NASDAQ:CSX)

Oppenheimer Asset Management Inc. increased its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 8.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 260,767 shares of the transportation company's stock after buying an additional 21,360 shares during the period. Oppenheimer Asset Management Inc.'s holdings in CSX were worth $7,674,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in CSX during the 4th quarter valued at about $780,194,000. Ameriprise Financial Inc. boosted its holdings in shares of CSX by 89.7% in the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company's stock valued at $673,025,000 after buying an additional 9,863,587 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in CSX by 40.5% in the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company's stock worth $753,507,000 after purchasing an additional 6,730,316 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in CSX by 471.9% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company's stock worth $217,808,000 after purchasing an additional 5,568,624 shares in the last quarter. Finally, Fiduciary Management Inc. WI acquired a new stake in CSX in the 4th quarter worth approximately $178,259,000. Hedge funds and other institutional investors own 73.57% of the company's stock.

CSX Trading Up 0.2%

NASDAQ CSX opened at $32.48 on Wednesday. The firm has a 50 day simple moving average of $30.34 and a 200-day simple moving average of $31.07. The firm has a market cap of $61.02 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 2.84 and a beta of 1.24. CSX Corporation has a one year low of $26.22 and a one year high of $37.10. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.75 and a current ratio of 0.88.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). CSX had a return on equity of 26.42% and a net margin of 22.66%. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. Equities research analysts anticipate that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a dividend of $0.13 per share. The ex-dividend date was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.60%. CSX's dividend payout ratio (DPR) is presently 31.14%.

Analysts Set New Price Targets

Several analysts have commented on CSX shares. Raymond James Financial restated an "outperform" rating and set a $33.00 price objective (down from $34.00) on shares of CSX in a research note on Thursday, April 17th. Benchmark reissued a "buy" rating and issued a $35.00 price target on shares of CSX in a report on Thursday, April 17th. The Goldman Sachs Group reissued a "neutral" rating and issued a $35.00 price target on shares of CSX in a report on Monday, June 2nd. Stifel Nicolaus dropped their target price on shares of CSX from $37.00 to $34.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, BMO Capital Markets lowered their price target on shares of CSX from $36.00 to $35.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, CSX presently has a consensus rating of "Moderate Buy" and an average price target of $34.14.

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.

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