Northwestern Mutual Investment Management Company LLC raised its stake in shares of CSX Co. (NASDAQ:CSX) by 34.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,526 shares of the transportation company’s stock after buying an additional 10,318 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in CSX were worth $2,322,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Ballast Advisors LLC acquired a new position in shares of CSX in the 1st quarter worth approximately $27,000. Private Ocean LLC grew its stake in shares of CSX by 147.8% in the 1st quarter. Private Ocean LLC now owns 503 shares of the transportation company’s stock worth $28,000 after purchasing an additional 300 shares during the last quarter. Filbrandt Wealth Management LLC acquired a new position in shares of CSX in the 4th quarter worth approximately $36,000. Westside Investment Management Inc. acquired a new position in shares of CSX in the 1st quarter worth approximately $38,000. Finally, Key Financial Inc acquired a new position in shares of CSX in the 1st quarter worth approximately $38,000. 73.08% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on CSX. Cowen reaffirmed a “neutral” rating on shares of CSX in a research note on Thursday, April 23rd. UBS Group raised shares of CSX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $63.00 to $80.00 in a research report on Wednesday. Royal Bank of Canada reissued a “neutral” rating on shares of CSX in a research report on Wednesday, March 18th. Deutsche Bank decreased their price target on shares of CSX from $90.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, March 12th. Finally, Cfra lifted their target price on shares of CSX from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Fourteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $72.43.
In related news, Director Paul C. Hilal sold 700,000 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $68.31, for a total transaction of $47,817,000.00. Following the completion of the sale, the director now directly owns 10,489 shares of the company’s stock, valued at approximately $716,503.59. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.58% of the stock is currently owned by corporate insiders.
Shares of CSX stock opened at $68.53 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.73 and a quick ratio of 1.61. The stock has a market cap of $51.90 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. The stock has a 50-day moving average of $63.07 and a 200-day moving average of $69.10. CSX Co. has a one year low of $46.81 and a one year high of $80.62.
CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. CSX had a return on equity of 27.27% and a net margin of 27.74%. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the prior year, the business posted $1.02 EPS. CSX’s revenue was down 5.2% on a year-over-year basis. As a group, research analysts anticipate that CSX Co. will post 3.62 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a dividend of $0.26 per share. The ex-dividend date is Thursday, May 28th. This represents a $1.04 dividend on an annualized basis and a yield of 1.52%. CSX’s payout ratio is 24.94%.
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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