Northern Trust Corp Increases Stock Position in CSX Corporation $CSX

Northern Trust Corp boosted its position in shares of CSX Corporation (NASDAQ:CSX) by 4.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,067,356 shares of the transportation company’s stock after acquiring an additional 969,567 shares during the period. Northern Trust Corp owned 1.17% of CSX worth $649,442,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in CSX during the fourth quarter valued at approximately $27,000. Rossby Financial LCC acquired a new position in CSX during the 1st quarter valued at approximately $28,000. Accredited Wealth Management LLC acquired a new position in CSX during the 4th quarter valued at approximately $29,000. Fourth Dimension Wealth LLC acquired a new position in CSX during the 4th quarter valued at approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in CSX during the 1st quarter valued at approximately $30,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

CSX has been the topic of a number of recent analyst reports. Robert W. Baird upped their price target on shares of CSX from $38.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Argus set a $32.00 price target on shares of CSX in a research note on Friday, April 25th. JPMorgan Chase & Co. upped their price target on shares of CSX from $34.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Susquehanna reiterated a “neutral” rating and issued a $35.00 price objective on shares of CSX in a research note on Tuesday, June 24th. Finally, TD Cowen upgraded shares of CSX from a “hold” rating to a “buy” rating and increased their price objective for the stock from $32.00 to $45.00 in a research note on Monday, July 21st. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

CSX Trading Down 0.9%

Shares of CSX stock opened at $35.99 on Tuesday. The firm has a 50-day simple moving average of $34.06 and a two-hundred day simple moving average of $31.57. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The company has a market cap of $67.10 billion, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 2.71 and a beta of 1.25. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The business had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the business earned $0.49 earnings per share. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, equities analysts predict that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a $0.13 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. CSX’s dividend payout ratio (DPR) is 32.10%.

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.