PDS Planning Inc Boosts Stake in CSX Corporation (NASDAQ:CSX)

PDS Planning Inc increased its holdings in shares of CSX Corporation (NASDAQ:CSX) by 5.4% during the first quarter, HoldingsChannel reports. The firm owned 13,558 shares of the transportation company’s stock after buying an additional 692 shares during the period. PDS Planning Inc’s holdings in CSX were worth $399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Norges Bank bought a new position in shares of CSX during the 4th quarter valued at $780,194,000. Ameriprise Financial Inc. increased its position in CSX by 89.7% during the fourth quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company’s stock valued at $673,025,000 after acquiring an additional 9,863,587 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in CSX by 471.9% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock valued at $217,808,000 after acquiring an additional 5,568,624 shares during the period. Fiduciary Management Inc. WI purchased a new position in CSX in the fourth quarter worth about $178,259,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in CSX in the fourth quarter worth about $117,133,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CSX. Argus set a $32.00 price target on shares of CSX in a research report on Friday, April 25th. Royal Bank Of Canada decreased their price target on shares of CSX from $31.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 17th. Bank of America boosted their price objective on shares of CSX from $33.00 to $35.00 and gave the company a “neutral” rating in a research report on Friday, June 13th. Citigroup reduced their price objective on CSX from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Barclays lowered their target price on CSX from $35.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.14.

CSX Stock Performance

Shares of NASDAQ CSX opened at $32.91 on Friday. The company has a market cap of $61.82 billion, a P/E ratio of 19.71, a P/E/G ratio of 2.85 and a beta of 1.24. CSX Corporation has a 52-week low of $26.22 and a 52-week high of $37.10. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.75 and a current ratio of 0.88. The firm’s fifty day moving average is $30.64 and its two-hundred day moving average is $31.06.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 16th. The transportation company reported $0.34 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 26.42% and a net margin of 22.66%. As a group, 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 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 was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.58%. CSX’s dividend payout ratio is currently 31.14%.

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.