TD Private Client Wealth LLC Raises Stock Position in CSX Corporation $CSX

TD Private Client Wealth LLC grew its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 39.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,098 shares of the transportation company's stock after purchasing an additional 12,016 shares during the quarter. TD Private Client Wealth LLC's holdings in CSX were worth $1,374,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC purchased a new stake in CSX in the first quarter worth about $182,550,000. Bank of New York Mellon Corp grew its holdings in shares of CSX by 21.6% during 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 acquiring an additional 5,033,743 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of 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 acquiring an additional 3,887,644 shares in the last quarter. Amundi lifted its stake in shares of CSX by 34.5% in the 1st quarter. Amundi now owns 13,017,397 shares of the transportation company's stock valued at $364,357,000 after purchasing an additional 3,341,136 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of CSX by 12.5% in the 1st quarter. Ameriprise Financial Inc. now owns 23,456,085 shares of the transportation company's stock valued at $690,359,000 after purchasing an additional 2,599,518 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded CSX from a "hold" rating to a "buy" rating and set a $40.00 price objective for the company in a report on Thursday, July 24th. Wall Street Zen downgraded shares of CSX from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Citigroup lifted their price target on shares of CSX from $36.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. TD Cowen upgraded shares of CSX from a "hold" rating to a "buy" rating and upped their price objective for the stock from $32.00 to $45.00 in a report on Monday, July 21st. Finally, Sanford C. Bernstein restated a "market perform" rating and issued a $36.00 price target (up previously from $33.00) on shares of CSX in a research note on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $37.59.

CSX Stock Down 0.1%

CSX stock opened at $33.78 on Friday. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $37.25. The stock has a fifty day simple moving average of $34.19 and a two-hundred day simple moving average of $31.75. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. The firm has a market cap of $62.98 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 2.53 and a beta of 1.25.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings data 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 analysts' expectations of $3.57 billion. During the same period last year, the firm posted $0.49 earnings per share. CSX's revenue was down 3.5% compared to the same quarter last year. Equities analysts predict that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $0.13 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.5%. CSX's payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.