CSX Corporation (NASDAQ:CSX) Shares Bought 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. raised its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 0.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 175,808,697 shares of the transportation company's stock after acquiring an additional 324,653 shares during the quarter. Vanguard Group Inc. owned approximately 9.36% of CSX worth $5,174,050,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Intrust Bank NA grew its stake in CSX by 8.3% in the first quarter. Intrust Bank NA now owns 31,614 shares of the transportation company's stock worth $930,000 after purchasing an additional 2,431 shares in the last quarter. Wealthspire Advisors LLC lifted its holdings in CSX by 110.2% during the 1st quarter. Wealthspire Advisors LLC now owns 60,840 shares of the transportation company's stock worth $1,791,000 after buying an additional 31,892 shares during the last quarter. Associated Banc Corp grew its position in shares of CSX by 0.9% in 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 in the last quarter. iA Global Asset Management Inc. increased its holdings in shares of CSX by 21.7% in the 1st quarter. iA Global Asset Management Inc. now owns 252,858 shares of the transportation company's stock valued at $7,442,000 after acquiring an additional 45,003 shares during the last quarter. Finally, ABC Arbitrage SA bought a new stake in shares of CSX in the 1st quarter valued at approximately $600,000. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on CSX. Raymond James Financial raised their price objective on CSX from $33.00 to $37.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft upgraded shares of CSX from a "hold" rating to a "buy" rating and set a $40.00 price target on the stock in a research report on Thursday, July 24th. Stifel Nicolaus decreased their price target on shares of CSX from $37.00 to $34.00 and set a "buy" rating for the company in a report on Monday, April 14th. TD Cowen upgraded shares of CSX from a "hold" rating to a "buy" rating and increased their price objective for the stock from $32.00 to $45.00 in a research note on Monday, July 21st. Finally, Baird R W raised shares of CSX to a "strong-buy" rating in a report on Tuesday, July 1st. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, CSX currently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

CSX Price Performance

Shares of CSX stock traded up $0.18 on Friday, hitting $35.43. The company had a trading volume of 10,864,400 shares, compared to its average volume of 21,548,876. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.10. 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 company has a market cap of $66.05 billion, a PE ratio of 21.87, a PEG ratio of 2.63 and a beta of 1.25. The business has a 50-day simple moving average of $33.56 and a 200-day simple moving average of $31.47.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share 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 business had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The company's revenue was down 3.5% on a year-over-year basis. Research analysts expect that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.5%. CSX's dividend payout ratio (DPR) is 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.