PFG Investments LLC Increases Stock Position in CSX Corporation (NASDAQ:CSX)

PFG Investments LLC boosted its stake in shares of CSX Corporation (NASDAQ:CSX) by 6.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,321 shares of the transportation company’s stock after buying an additional 1,260 shares during the quarter. PFG Investments LLC’s holdings in CSX were worth $598,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Geode Capital Management LLC lifted its position in shares of CSX by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company’s stock worth $1,339,555,000 after purchasing an additional 726,507 shares in the last quarter. Invesco Ltd. lifted its position in shares of CSX by 13.5% during the fourth quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company’s stock worth $810,076,000 after purchasing an additional 2,977,212 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of CSX by 1.2% during the fourth quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock worth $805,345,000 after purchasing an additional 299,536 shares in the last quarter. Norges Bank acquired a new stake in shares of CSX during the fourth quarter worth about $780,194,000. Finally, Bank of New York Mellon Corp raised its holdings in CSX by 40.5% in the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after acquiring an additional 6,730,316 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Performance

Shares of CSX opened at $32.42 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.75 and a debt-to-equity ratio of 1.52. The firm has a market cap of $60.90 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 2.81 and a beta of 1.24. The company’s 50 day simple moving average is $30.24 and its 200-day simple moving average is $31.06. CSX Corporation has a 12-month low of $26.22 and a 12-month high of $37.10.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The business had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.53 billion. CSX had a return on equity of 26.42% and a net margin of 22.66%. As a group, equities analysts predict that CSX Corporation will post 1.83 EPS for the current year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.60%. CSX’s dividend payout ratio (DPR) is presently 31.14%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CSX in a report on Friday, March 7th. They issued a “hold” rating and a $34.00 target price on the stock. Stifel Nicolaus reduced their target price on shares of CSX from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, April 14th. UBS Group reduced their target price on shares of CSX from $36.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company reduced their target price on shares of CSX from $31.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. Finally, Royal Bank Of Canada reduced their target price on shares of CSX from $31.00 to $30.00 and set a “sector perform” rating on the stock in a report on Thursday, April 17th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.14.

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.