27,454 Shares in CSX Corporation $CSX Acquired by Scientech Research LLC

Scientech Research LLC acquired a new position in shares of CSX Corporation (NASDAQ:CSX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 27,454 shares of the transportation company's stock, valued at approximately $808,000.

Several other institutional investors have also recently added to or reduced their stakes in CSX. Nuveen LLC purchased a new stake in CSX during the first quarter worth approximately $182,550,000. Bank of New York Mellon Corp lifted its stake in CSX by 21.6% during the first quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company's stock worth $835,336,000 after purchasing an additional 5,033,743 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in CSX by 1,283.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,190,452 shares of the transportation company's stock worth $123,786,000 after purchasing an additional 3,887,644 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in CSX during the fourth quarter worth approximately $117,133,000. Finally, Amundi lifted its stake in CSX by 34.5% during the first quarter. Amundi now owns 13,017,397 shares of the transportation company's stock worth $364,357,000 after purchasing an additional 3,341,136 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company's stock.

Analysts Set New Price Targets

CSX has been the subject of several recent analyst reports. The Goldman Sachs Group restated a "neutral" rating and set a $35.00 target price on shares of CSX in a research note on Monday, June 2nd. Wells Fargo & Company raised their target price on shares of CSX from $35.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $36.00 price target (up previously from $33.00) on shares of CSX in a research report on Tuesday, July 8th. Robert W. Baird increased their price target on shares of CSX from $38.00 to $44.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Finally, Susquehanna restated a "neutral" rating and issued a $35.00 price objective on shares of CSX in a research note on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.

CSX Price Performance

Shares of NASDAQ CSX traded down $0.38 during trading on Friday, hitting $32.47. 9,253,621 shares of the company were exchanged, compared to its average volume of 21,929,234. The company has a market cap of $60.53 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 2.45 and a beta of 1.25. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.25. The firm's fifty day moving average price is $34.26 and its 200 day moving average price is $31.64. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings results 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. CSX had a return on equity of 25.48% and a net margin of 21.92%.The business had revenue of $3.57 billion during the quarter, compared to analysts' expectations of $3.57 billion. During the same quarter last year, the business posted $0.49 earnings per share. The business's revenue for the quarter was down 3.5% on a year-over-year basis. On average, sell-side analysts expect that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 29th. CSX's payout ratio is currently 32.10%.

About CSX

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.