B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund boosted its stake in CSX Co. (NASDAQ:CSX) by 22.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 385,813 shares of the transportation company’s stock after buying an additional 70,125 shares during the quarter. CSX makes up approximately 4.0% of B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s portfolio, making the stock its 5th largest holding. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in CSX were worth $24,607,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Egerton Capital UK LLP purchased a new position in CSX in the 2nd quarter worth approximately $440,710,000. CI Global Investments Inc. lifted its stake in CSX by 254.1% in the 1st quarter. CI Global Investments Inc. now owns 6,305,842 shares of the transportation company’s stock worth $351,298,000 after purchasing an additional 4,524,823 shares in the last quarter. AGF Investments Inc. purchased a new position in CSX in the 2nd quarter worth approximately $90,467,000. Interval Partners LP purchased a new position in CSX in the 1st quarter worth approximately $50,306,000. Finally, Alleghany Corp DE lifted its stake in CSX by 20.9% in the 1st quarter. Alleghany Corp DE now owns 5,180,000 shares of the transportation company’s stock worth $288,577,000 after purchasing an additional 895,000 shares in the last quarter. 74.56% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on CSX shares. BidaskClub lowered shares of CSX from a “buy” rating to a “hold” rating in a research note on Friday, August 31st. Stifel Nicolaus raised their target price on shares of CSX from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, July 18th. Loop Capital raised shares of CSX from a “hold” rating to a “buy” rating and lifted their price target for the company from $65.00 to $78.00 in a research report on Wednesday, July 18th. Morgan Stanley lifted their price target on shares of CSX from $49.00 to $52.00 and gave the company a “sell” rating in a research report on Wednesday, July 18th. Finally, Scotiabank set a $72.00 price target on shares of CSX and gave the company a “hold” rating in a research report on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $69.45.
NASDAQ:CSX opened at $73.18 on Friday. The firm has a market capitalization of $63.65 billion, a price-to-earnings ratio of 31.82, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.66 and a quick ratio of 1.48. CSX Co. has a 52 week low of $48.26 and a 52 week high of $76.24.
CSX (NASDAQ:CSX) last posted its quarterly earnings results on Tuesday, July 17th. The transportation company reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.15. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3 billion. CSX had a net margin of 53.27% and a return on equity of 19.31%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 earnings per share. sell-side analysts anticipate that CSX Co. will post 3.59 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 31st will be paid a $0.22 dividend. The ex-dividend date is Thursday, August 30th. This represents a $0.88 annualized dividend and a dividend yield of 1.20%. CSX’s dividend payout ratio (DPR) is 38.26%.
CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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