CSX Corporation (NASDAQ:CSX) Shares Purchased by Prudential PLC

Key Points

• Prudential PLC increased its holdings in CSX Corporation by 100.9% during the 1st quarter, owning a total of 534,268 shares valued at approximately $15.7 million.
• Major institutional investors, including Ameriprise Financial and Bank of New York Mellon Corp, have also significantly increased their stakes in CSX, which is currently 73.57% owned by institutional investors.
• CSX recently announced a quarterly dividend of $0.13 per share, representing a 1.5% dividend yield, set to be paid on September 15th.

Prudential PLC raised its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 100.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 534,268 shares of the transportation company's stock after acquiring an additional 268,378 shares during the quarter. Prudential PLC's holdings in CSX were worth $15,724,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Ameriprise Financial Inc. raised its stake in CSX by 89.7% during 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 during the last quarter. Nuveen LLC purchased a new stake in shares of CSX in the 1st quarter worth $182,550,000. Fiduciary Management Inc. WI bought a new position in CSX in the 4th quarter worth $178,259,000. Bank of New York Mellon Corp boosted its holdings in CSX by 21.6% in the 1st quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company's stock worth $835,336,000 after buying an additional 5,033,743 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in CSX by 1,283.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,190,452 shares of the transportation company's stock worth $123,786,000 after buying an additional 3,887,644 shares during the period. 73.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CSX has been the subject of several research reports. BMO Capital Markets increased their price objective on shares of CSX from $36.00 to $38.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. The Goldman Sachs Group reissued a "neutral" rating and issued a $35.00 price objective on shares of CSX in a research report on Monday, June 2nd. JPMorgan Chase & Co. increased their price objective on shares of CSX from $34.00 to $41.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Benchmark raised their target price on shares of CSX from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Wall Street Zen raised shares of CSX from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $37.00.

CSX Stock Performance

Shares of CSX traded down $0.03 during trading hours on Friday, reaching $36.32. 17,894,366 shares of the company traded hands, compared to its average volume of 16,099,797. The stock has a market capitalization of $67.71 billion, a P/E ratio of 22.42, a P/E/G ratio of 2.69 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. CSX Corporation has a 12-month low of $26.22 and a 12-month high of $37.10. The business has a fifty day moving average price of $33.90 and a 200-day moving average price of $31.54.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. The firm had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. The business's quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 earnings per share. Equities analysts anticipate that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.13 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.52 dividend on an annualized basis 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.