Assenagon Asset Management S.A. Buys 2,333,674 Shares of CSX Co. (NASDAQ:CSX)

Assenagon Asset Management S.A. grew its stake in CSX Co. (NASDAQ:CSX) by 104.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,578,290 shares of the transportation company’s stock after purchasing an additional 2,333,674 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.24% of CSX worth $134,739,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of CSX in the fourth quarter valued at approximately $27,000. Accredited Wealth Management LLC bought a new position in shares of CSX in the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC bought a new position in shares of CSX in the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. bought a new position in shares of CSX in the fourth quarter valued at approximately $31,000. Finally, Sierra Ocean LLC bought a new position in shares of CSX in the fourth quarter valued at approximately $33,000. Institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

CSX has been the topic of a number of recent analyst reports. Raymond James reiterated an “outperform” rating and set a $33.00 price target (down from $34.00) on shares of CSX in a report on Thursday, April 17th. Wells Fargo & Company dropped their price target on CSX from $31.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a report on Friday, March 7th. They set a “hold” rating and a $34.00 price target on the stock. Susquehanna dropped their price target on CSX from $37.00 to $35.00 and set a “positive” rating on the stock in a report on Thursday, April 17th. Finally, Barclays dropped their price target on CSX from $35.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.95.

CSX Stock Performance

NASDAQ:CSX opened at $32.61 on Wednesday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The business has a fifty day simple moving average of $29.42 and a two-hundred day simple moving average of $31.33. CSX Co. has a 1 year low of $26.22 and a 1 year high of $37.10. The company has a market capitalization of $61.26 billion, a P/E ratio of 18.22, a P/E/G ratio of 1.92 and a beta of 1.24.

CSX (NASDAQ:CSX) last released 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 firm had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. On average, analysts expect that CSX Co. will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Friday, May 30th. CSX’s dividend payout ratio (DPR) is presently 31.14%.

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.