CSX Corporation (NASDAQ:CSX) Shares Acquired by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in CSX Corporation by 0.2%, acquiring an additional 324,653 shares, bringing its total ownership to approximately 9.36%, valued at $5.17 billion.
• Several institutional investors, including Wellington Management Group and CWA Asset Management, have also significantly increased their holdings in CSX during the previous quarters.
• CSX recently declared a quarterly dividend of $0.13 per share, which will be paid to shareholders on September 15th, reflecting a 1.4% annualized dividend yield.

Vanguard Group Inc. grew its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 0.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 175,808,697 shares of the transportation company's stock after purchasing an additional 324,653 shares during the period. Vanguard Group Inc. owned approximately 9.36% of CSX worth $5,174,050,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CSX. Associated Banc Corp increased its stake in CSX by 0.9% during the 1st quarter. Associated Banc Corp now owns 40,384 shares of the transportation company's stock worth $1,189,000 after acquiring an additional 356 shares during the period. Portside Wealth Group LLC increased its stake 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 valued at $804,000 after purchasing an additional 361 shares during the last quarter. Ullmann Wealth Partners Group LLC boosted its holdings in shares of CSX by 1.3% during the 1st quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company's stock valued at $862,000 after acquiring an additional 363 shares in the last quarter. LRI Investments LLC boosted its holdings in shares of CSX by 4.8% during the 1st quarter. LRI Investments LLC now owns 8,254 shares of the transportation company's stock valued at $243,000 after acquiring an additional 375 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. boosted its holdings in shares of CSX by 1.2% during the 1st quarter. Patrick M Sweeney & Associates Inc. now owns 32,205 shares of the transportation company's stock valued at $948,000 after acquiring an additional 378 shares in the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CSX has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their price objective on CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of CSX in a research report on Thursday, July 24th. Robert W. Baird boosted their price objective on CSX from $38.00 to $44.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Barclays upped their target price on CSX from $36.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, TD Cowen raised CSX from a "hold" rating to a "buy" rating and upped their target price for the company from $32.00 to $45.00 in a report on Monday, July 21st. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $37.00.

CSX Stock Down 1.3%

Shares of NASDAQ CSX traded down $0.48 during midday trading on Monday, reaching $34.96. 5,003,741 shares of the company's stock traded hands, compared to its average volume of 15,901,705. 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's 50 day simple moving average is $33.56 and its 200-day simple moving average is $31.45. CSX Corporation has a one year low of $26.22 and a one year high of $37.10. The company has a market cap of $65.17 billion, a price-to-earnings ratio of 21.58, a P/E/G ratio of 2.64 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. The business had revenue of $3.57 billion during 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%. The business's quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the company posted $0.49 earnings per share. On average, analysts predict that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 1.5%. CSX's payout ratio is 32.10%.

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.