Principal Financial Group Inc. Raises Stake in CSX Corporation (NASDAQ:CSX)

Principal Financial Group Inc. increased its position in CSX Corporation (NASDAQ:CSX - Free Report) by 1.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,357,580 shares of the transportation company's stock after acquiring an additional 42,424 shares during the quarter. Principal Financial Group Inc. owned about 0.13% of CSX worth $69,384,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Mutual Advisors LLC lifted its position in CSX by 27.9% during the first quarter. Mutual Advisors LLC now owns 8,202 shares of the transportation company's stock valued at $228,000 after purchasing an additional 1,788 shares during the last quarter. Resonant Capital Advisors LLC lifted its position in CSX by 4.8% during the first quarter. Resonant Capital Advisors LLC now owns 63,439 shares of the transportation company's stock valued at $1,867,000 after purchasing an additional 2,934 shares during the last quarter. Teacher Retirement System of Texas lifted its position in CSX by 224.9% during the first quarter. Teacher Retirement System of Texas now owns 371,579 shares of the transportation company's stock valued at $10,936,000 after purchasing an additional 257,223 shares during the last quarter. Novem Group lifted its position in CSX by 29.0% during the first quarter. Novem Group now owns 36,398 shares of the transportation company's stock valued at $1,071,000 after purchasing an additional 8,190 shares during the last quarter. Finally, Fiduciary Group LLC lifted its position in CSX by 1.8% during the first quarter. Fiduciary Group LLC now owns 43,386 shares of the transportation company's stock valued at $1,277,000 after purchasing an additional 785 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

CSX Price Performance

Shares of CSX stock traded up $0.39 on Tuesday, reaching $33.44. 3,878,252 shares of the company were exchanged, compared to its average volume of 13,275,651. 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 Corporation has a 1 year low of $26.22 and a 1 year high of $37.10. The company has a market cap of $62.82 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 2.94 and a beta of 1.23. The business has a 50-day moving average price of $31.30 and a 200 day moving average price of $31.06.

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

CSX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Friday, May 30th. CSX's payout ratio is currently 31.14%.

Analyst Ratings Changes

Several research analysts have commented on the stock. BMO Capital Markets decreased their price target on shares of CSX from $36.00 to $35.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Barclays decreased their price target on shares of CSX from $35.00 to $31.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Bank of America lifted their price target on shares of CSX from $33.00 to $35.00 and gave the stock a "neutral" rating in a research note on Friday, June 13th. Jefferies Financial Group decreased their price target on shares of CSX from $37.00 to $33.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, Citigroup decreased their price target on shares of CSX from $39.00 to $36.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, CSX has a consensus rating of "Moderate Buy" and an average price target of $34.32.

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.