Ameriprise Financial Inc. increased its position in shares of CSX Corporation (NASDAQ:CSX – Free Report) by 12.5% during the 1st quarter, Holdings Channel.com reports. The fund owned 23,456,085 shares of the transportation company’s stock after acquiring an additional 2,599,518 shares during the period. Ameriprise Financial Inc.’s holdings in CSX were worth $690,359,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Norinchukin Bank The grew its holdings in shares of CSX by 44.3% in the first quarter. Norinchukin Bank The now owns 133,555 shares of the transportation company’s stock valued at $3,931,000 after purchasing an additional 41,011 shares in the last quarter. Summit Financial LLC lifted its holdings in CSX by 9.4% during the 1st quarter. Summit Financial LLC now owns 32,431 shares of the transportation company’s stock worth $954,000 after buying an additional 2,797 shares during the last quarter. Partners Capital Investment Group LLP boosted its position in shares of CSX by 90.2% during the 1st quarter. Partners Capital Investment Group LLP now owns 274,281 shares of the transportation company’s stock worth $8,072,000 after acquiring an additional 130,091 shares in the last quarter. Frisch Financial Group Inc. increased its holdings in shares of CSX by 34.8% in the 1st quarter. Frisch Financial Group Inc. now owns 14,015 shares of the transportation company’s stock valued at $412,000 after acquiring an additional 3,617 shares during the last quarter. Finally, Erste Asset Management GmbH increased its holdings in shares of CSX by 20.1% in the 1st quarter. Erste Asset Management GmbH now owns 28,824 shares of the transportation company’s stock valued at $839,000 after acquiring an additional 4,823 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on CSX shares. Benchmark upped their price target on CSX from $37.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 24th. TD Cowen upgraded shares of 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. Barclays increased their target price on shares of CSX from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Bank of America upgraded CSX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $34.00 to $42.00 in a research report on Thursday, July 17th. Finally, BMO Capital Markets downgraded CSX from an “outperform” rating to a “market perform” rating and set a $38.00 price target on the stock. in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $37.00.
CSX Stock Performance
Shares of CSX opened at $35.87 on Friday. CSX Corporation has a 52-week low of $26.22 and a 52-week high of $37.25. 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 company has a market capitalization of $66.87 billion, a PE ratio of 22.14, a P/E/G ratio of 2.69 and a beta of 1.25. The company has a 50-day simple moving average of $34.28 and a 200-day simple moving average of $31.66.
CSX (NASDAQ:CSX – Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the previous year, the firm posted $0.49 earnings per share. CSX’s revenue was down 3.5% on a year-over-year basis. Equities research analysts predict that CSX Corporation will post 1.83 earnings per share for the current fiscal year.
CSX Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 annualized dividend and a yield of 1.4%. CSX’s payout ratio is presently 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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