Zurcher Kantonalbank Zurich Cantonalbank Has $24.73 Million Stock Holdings in CSX Corporation (NASDAQ:CSX)

Key Points

• Zurcher Kantonalbank increased its holdings in CSX Corporation by 3.4%, bringing its total to 840,143 shares valued at approximately $24.73 million.
• Recent analyst ratings show a strong buy upgrade from Baird, with a consensus price target of $37.00 and many analysts issuing a buy or hold rating for CSX stock.
• CSX reported a quarterly EPS of $0.44, exceeding the consensus estimate, while revenue decreased by 3.5% compared to the same quarter last year.

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 3.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 840,143 shares of the transportation company's stock after acquiring an additional 27,460 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in CSX were worth $24,725,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Empirical Finance LLC boosted its holdings in CSX by 1.7% during the first quarter. Empirical Finance LLC now owns 71,307 shares of the transportation company's stock worth $2,099,000 after buying an additional 1,226 shares in the last quarter. FourThought Financial Partners LLC boosted its stake in CSX by 7.1% in the 1st quarter. FourThought Financial Partners LLC now owns 101,187 shares of the transportation company's stock worth $2,978,000 after purchasing an additional 6,681 shares during the period. Integrated Investment Consultants LLC lifted its position in CSX by 3.3% in the 1st quarter. Integrated Investment Consultants LLC now owns 19,205 shares of the transportation company's stock worth $565,000 after buying an additional 605 shares in the last quarter. HB Wealth Management LLC lifted its position in CSX by 38.9% in the 1st quarter. HB Wealth Management LLC now owns 98,886 shares of the transportation company's stock worth $2,910,000 after buying an additional 27,700 shares in the last quarter. Finally, Applied Finance Capital Management LLC lifted its position in CSX by 10.4% in the 1st quarter. Applied Finance Capital Management LLC now owns 37,782 shares of the transportation company's stock worth $1,112,000 after buying an additional 3,550 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CSX. Citigroup upped their price target on shares of CSX from $36.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Bank of America upgraded shares of CSX from a "neutral" rating to a "buy" rating and lifted their target price for the company from $34.00 to $42.00 in a research report on Thursday, July 17th. The Goldman Sachs Group reiterated a "neutral" rating and set a $35.00 target price on shares of CSX in a research report on Monday, June 2nd. Deutsche Bank Aktiengesellschaft raised shares of CSX from a "hold" rating to a "buy" rating and set a $40.00 price objective on the stock in a research note on Thursday, July 24th. Finally, Stifel Nicolaus decreased their price objective on shares of CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $37.00.

CSX Stock Performance

NASDAQ CSX traded down $0.44 during trading on Friday, reaching $35.11. The company's stock had a trading volume of 10,154,083 shares, compared to its average volume of 16,035,017. 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 capitalization of $65.45 billion, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 2.64 and a beta of 1.23. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $37.10. The firm has a 50 day moving average price of $33.05 and a 200 day moving average price of $31.36.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. The firm had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. The business's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.49 EPS. As a group, equities analysts anticipate that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

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