CSX Corporation (NASDAQ:CSX) Shares Acquired by Sound Shore Management Inc. CT

Sound Shore Management Inc. CT boosted its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 48.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,110,510 shares of the transportation company's stock after purchasing an additional 1,008,725 shares during the period. CSX accounts for approximately 3.2% of Sound Shore Management Inc. CT's holdings, making the stock its 10th largest holding. Sound Shore Management Inc. CT owned approximately 0.17% of CSX worth $91,542,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CSX. Portside Wealth Group LLC boosted its position in shares of CSX by 1.3% in the 1st quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company's stock worth $804,000 after purchasing an additional 361 shares during the last quarter. Ullmann Wealth Partners Group LLC boosted its position in shares of CSX by 1.3% in the 1st quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company's stock worth $862,000 after purchasing an additional 363 shares during the last quarter. Family Legacy Inc. boosted its position in shares of CSX by 0.6% in the 4th quarter. Family Legacy Inc. now owns 68,009 shares of the transportation company's stock worth $2,190,000 after purchasing an additional 375 shares during the last quarter. LRI Investments LLC boosted its position in shares of CSX by 4.8% in the 1st quarter. LRI Investments LLC now owns 8,254 shares of the transportation company's stock worth $243,000 after purchasing an additional 375 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. boosted its position in shares of CSX by 1.2% in the 1st quarter. Patrick M Sweeney & Associates Inc. now owns 32,205 shares of the transportation company's stock worth $948,000 after purchasing an additional 378 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Performance

NASDAQ CSX traded up $0.76 during trading on Friday, reaching $35.76. 31,706,226 shares of the company's stock were exchanged, compared to its average volume of 16,334,290. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The business has a 50 day moving average price of $32.69 and a 200-day moving average price of $31.26. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.75. The stock has a market capitalization of $66.67 billion, a P/E ratio of 22.07, a PEG ratio of 3.13 and a beta of 1.23.

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

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Friday, August 29th. CSX's payout ratio is 32.10%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price target on CSX from $34.00 to $41.00 and gave the stock an "overweight" rating in a research report on Thursday. Benchmark boosted their target price on CSX from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday. Argus set a $32.00 target price on CSX in a research note on Friday, April 25th. UBS Group decreased their target price on CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Finally, Robert W. Baird boosted their target price on CSX from $38.00 to $44.00 and gave the company an "outperform" rating in a research note on Friday. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

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.