Partners Capital Investment Group LLP Acquires 130,091 Shares of CSX Corporation $CSX

Key Points

• Partners Capital Investment Group LLP increased its holdings in CSX Corporation by 90.2% to 274,281 shares, purchasing an additional 130,091 shares in the first quarter, valuing their holdings at $8,072,000.
• Several institutional investors have also boosted their positions in CSX, with Credit Agricole S A leading by increasing its holdings by 106.2%, now owning 711,603 shares worth $20,942,000.
• Research analysts have raised their price targets for CSX, with Benchmark and JPMorgan Chase both increasing their targets to $40.00, reflecting positive sentiment towards the stock.

Partners Capital Investment Group LLP raised its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 90.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 274,281 shares of the transportation company's stock after purchasing an additional 130,091 shares during the quarter. Partners Capital Investment Group LLP's holdings in CSX were worth $8,072,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Frisch Financial Group Inc. grew its position in CSX by 34.8% in the first quarter. Frisch Financial Group Inc. now owns 14,015 shares of the transportation company's stock worth $412,000 after acquiring an additional 3,617 shares in the last quarter. Erste Asset Management GmbH increased its position in shares of CSX by 20.1% during the 1st quarter. Erste Asset Management GmbH now owns 28,824 shares of the transportation company's stock valued at $839,000 after purchasing an additional 4,823 shares during the last quarter. Venture Visionary Partners LLC raised its holdings in CSX by 3.2% during the 1st quarter. Venture Visionary Partners LLC now owns 54,041 shares of the transportation company's stock valued at $1,590,000 after buying an additional 1,655 shares during the period. Credit Agricole S A raised its holdings in CSX by 106.2% during the 1st quarter. Credit Agricole S A now owns 711,603 shares of the transportation company's stock valued at $20,942,000 after buying an additional 366,519 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. lifted its position in CSX by 0.6% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 244,009 shares of the transportation company's stock worth $7,192,000 after buying an additional 1,557 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on CSX shares. Benchmark boosted their price objective on shares of CSX from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. upped their price target on shares of CSX from $34.00 to $41.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Royal Bank Of Canada reissued a "sector perform" rating on shares of CSX in a research note on Thursday, July 24th. Sanford C. Bernstein restated a "market perform" rating and set a $36.00 target price (up previously from $33.00) on shares of CSX in a research report on Tuesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded CSX from a "hold" rating to a "buy" rating and set a $40.00 price target on the stock in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, CSX presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

CSX Trading Down 1.5%

NASDAQ:CSX opened at $35.99 on Thursday. The stock has a market capitalization of $67.10 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 2.73 and a beta of 1.25. CSX Corporation has a 52 week low of $26.22 and a 52 week 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 firm has a 50 day moving average of $34.21 and a 200 day moving average of $31.64.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the previous year, the company earned $0.49 earnings per share. The business's revenue for the quarter was down 3.5% on a year-over-year basis. As a group, 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 disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.13 per share. The ex-dividend date is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. CSX's dividend payout ratio is 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.

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