Tounjian Advisory Partners LLC Makes New $2.39 Million Investment in CSX Co. (NASDAQ:CSX)

Tounjian Advisory Partners LLC acquired a new stake in CSX Co. (NASDAQ:CSX - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 81,112 shares of the transportation company's stock, valued at approximately $2,387,000.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its stake in CSX by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company's stock worth $1,339,555,000 after acquiring an additional 726,507 shares in the last quarter. Invesco Ltd. grew its holdings in shares of CSX by 13.5% in the 4th quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company's stock worth $810,076,000 after purchasing an additional 2,977,212 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of CSX by 1.2% in the 4th quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company's stock worth $805,345,000 after purchasing an additional 299,536 shares during the last quarter. Norges Bank acquired a new stake in shares of CSX during the 4th quarter worth about $780,194,000. Finally, Bank of New York Mellon Corp lifted its holdings in CSX by 40.5% during the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company's stock valued at $753,507,000 after purchasing an additional 6,730,316 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Royal Bank of Canada reduced their target price on CSX from $31.00 to $30.00 and set a "sector perform" rating on the stock in a report on Thursday, April 17th. Raymond James reissued an "outperform" rating and issued a $33.00 price objective (down previously from $34.00) on shares of CSX in a research note on Thursday, April 17th. Susquehanna lowered their target price on CSX from $37.00 to $35.00 and set a "positive" rating for the company in a research note on Thursday, April 17th. Argus set a $32.00 price objective on shares of CSX in a report on Friday, April 25th. Finally, Barclays dropped their target price on shares of CSX from $35.00 to $31.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $33.95.

CSX Stock Performance

CSX traded down $0.25 during trading hours on Monday, reaching $31.98. The company's stock had a trading volume of 14,840,638 shares, compared to its average volume of 13,154,949. The company's 50-day moving average is $29.28 and its 200-day moving average is $31.34. CSX Co. has a 52 week low of $26.22 and a 52 week high of $37.10. The firm has a market cap of $60.08 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 1.92 and a beta of 1.24. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86.

CSX (NASDAQ:CSX - Get Free Report) last posted its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. On average, equities analysts forecast that CSX Co. will post 1.83 EPS for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Friday, May 30th. CSX's payout ratio is currently 31.14%.

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.