UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Acquires 2,454,895 Shares of CSX Corporation $CSX

Key Points

• UBS AM has increased its holdings in CSX Corporation by 19.1%, now owning 15,312,107 shares valued at approximately $450.6 million.
• Several institutional investors, including Fourth Dimension Wealth and Barnes Dennig Private Wealth Management, have recently purchased new stakes in CSX, boosting institutional ownership to 73.57% of the company's stock.
• Analysts generally have a positive outlook on CSX, with numerous upgrades in price targets and a consensus rating of "Moderate Buy", aiming for a price target around $37.00.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 19.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 15,312,107 shares of the transportation company's stock after purchasing an additional 2,454,895 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.82% of CSX worth $450,635,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fourth Dimension Wealth LLC bought a new stake in shares of CSX during the fourth quarter worth approximately $29,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of CSX during the first quarter worth approximately $30,000. Rossby Financial LCC bought a new stake in shares of CSX during the first quarter worth approximately $28,000. Kessler Investment Group LLC bought a new stake in shares of CSX during the first quarter worth approximately $32,000. Finally, Putney Financial Group LLC bought a new stake in shares of CSX during the fourth quarter worth approximately $44,000. Institutional investors own 73.57% of the company's stock.

Wall Street Analysts Forecast Growth

CSX has been the subject of a number of research analyst reports. TD Cowen upgraded CSX from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $32.00 to $45.00 in a report on Monday, July 21st. Raymond James Financial boosted their price target on CSX from $33.00 to $37.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Robert W. Baird boosted their price target on CSX from $38.00 to $44.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $36.00 price target (up from $33.00) on shares of CSX in a research note on Tuesday, July 8th. Finally, Barclays boosted their price target on CSX from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

CSX Stock Down 0.7%

Shares of CSX opened at $32.20 on Wednesday. CSX Corporation has a one year low of $26.22 and a one year high of $37.25. The company has a market cap of $60.03 billion, a P/E ratio of 19.88, a P/E/G ratio of 2.42 and a beta of 1.25. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63. The firm has a 50 day simple moving average of $34.32 and a two-hundred day simple moving average of $31.63.

CSX (NASDAQ:CSX - Get Free Report) last announced 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 net margin of 21.92% and a return on equity of 25.48%. The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the previous year, the business earned $0.49 earnings per share. The company's revenue was down 3.5% on a year-over-year basis. Research analysts forecast that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, August 29th. 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.

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