1,006,268 Shares in CSX Corporation $CSX Bought by Strs Ohio

Key Points

• Strs Ohio has acquired a new stake in CSX Corporation, purchasing approximately 1,006,268 shares valued at about $29.61 million.
• CSX has received multiple analyst rating changes, with one analyst upgrading it to a "strong-buy" and another downgrading it to "market perform", reflecting varied market perspectives on the company.
• The company announced a quarterly dividend of $0.13 per share, resulting in an annual yield of approximately 1.6%, to be paid on September 15th.

Strs Ohio purchased a new position in shares of CSX Corporation (NASDAQ:CSX - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,006,268 shares of the transportation company's stock, valued at approximately $29,614,000. Strs Ohio owned 0.05% of CSX at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Foresight Group Ltd Liability Partnership purchased a new position in CSX in the first quarter worth $1,504,000. Jacobi Capital Management LLC lifted its stake in shares of CSX by 9.7% in the 1st quarter. Jacobi Capital Management LLC now owns 43,356 shares of the transportation company's stock valued at $1,276,000 after purchasing an additional 3,834 shares in the last quarter. Belpointe Asset Management LLC raised its holdings in shares of CSX by 32.8% during the 1st quarter. Belpointe Asset Management LLC now owns 9,875 shares of the transportation company's stock valued at $291,000 after buying an additional 2,438 shares during the period. Focus Partners Wealth increased its holdings in CSX by 6.7% during the 1st quarter. Focus Partners Wealth now owns 1,447,099 shares of the transportation company's stock worth $42,588,000 after purchasing an additional 90,313 shares during the last quarter. Finally, Integrity Alliance LLC. grew its position in shares of CSX by 101.8% in the 1st quarter. Integrity Alliance LLC. now owns 15,188 shares of the transportation company's stock worth $447,000 after acquiring an additional 7,661 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CSX has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on CSX from $34.00 to $41.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. BMO Capital Markets downgraded CSX from an "outperform" rating to a "market perform" rating and set a $38.00 price target for the company. in a research note on Monday, August 18th. Baird R W upgraded CSX to a "strong-buy" rating in a research report on Tuesday, July 1st. Raymond James Financial lifted their target price on CSX from $33.00 to $37.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Finally, Susquehanna reiterated a "neutral" rating and set a $35.00 target price on shares of CSX in a report on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

CSX Stock Down 1.2%

CSX stock traded down $0.38 during mid-day trading on Friday, reaching $32.47. 9,253,621 shares of the company traded hands, compared to its average volume of 21,497,084. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week high of $37.25. The firm's 50 day moving average price is $34.26 and its 200 day moving average price is $31.64. 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 stock has a market cap of $60.53 billion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 2.42 and a beta of 1.25.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. The company had revenue of $3.57 billion for the quarter, compared to analysts' expectations of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. CSX's revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 EPS. As a group, equities research analysts predict that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.6%. CSX's dividend payout ratio is presently 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.