CSX Corporation (NASDAQ:CSX) Stock Position Lifted by GPM Growth Investors Inc.

GPM Growth Investors Inc. lifted its stake in shares of CSX Corporation (NASDAQ:CSX) by 1.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,295 shares of the transportation company’s stock after purchasing an additional 2,084 shares during the quarter. CSX comprises about 1.4% of GPM Growth Investors Inc.’s investment portfolio, making the stock its 24th largest holding. GPM Growth Investors Inc.’s holdings in CSX were worth $3,246,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Geode Capital Management LLC raised its stake in shares of CSX by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company’s stock worth $1,339,555,000 after buying an additional 726,507 shares in the last quarter. Bank of New York Mellon Corp raised its position in CSX by 21.6% in the first quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company’s stock worth $835,336,000 after acquiring an additional 5,033,743 shares in the last quarter. Invesco Ltd. boosted its position in shares of CSX by 13.5% during the 4th quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company’s stock valued at $810,076,000 after purchasing an additional 2,977,212 shares in the last quarter. Norges Bank bought a new position in shares of CSX during the 4th quarter valued at about $780,194,000. Finally, Lazard Asset Management LLC grew its stake in shares of CSX by 3.5% in the 4th quarter. Lazard Asset Management LLC now owns 21,124,807 shares of the transportation company’s stock worth $681,696,000 after purchasing an additional 707,934 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Baird R W raised shares of CSX to a “strong-buy” rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. increased their price objective on CSX from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Benchmark restated a “buy” rating and issued a $35.00 target price on shares of CSX in a report on Thursday, April 17th. Royal Bank Of Canada cut their target price on shares of CSX from $31.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 17th. Finally, Jefferies Financial Group lowered their price objective on shares of CSX from $37.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.64.

CSX Stock Performance

CSX opened at $33.98 on Tuesday. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.88 and a quick ratio of 0.75. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.10. The company has a market capitalization of $63.83 billion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 3.05 and a beta of 1.23. The business’s 50-day moving average price is $31.84 and its two-hundred day moving average price is $31.10.

CSX (NASDAQ:CSX) last announced its quarterly 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). CSX had a net margin of 22.66% and a return on equity of 26.42%. The firm had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. Equities analysts expect that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 annualized dividend and a yield of 1.53%. CSX’s dividend payout ratio is presently 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.