DekaBank Deutsche Girozentrale Buys 25,315 Shares of CSX Co. (NASDAQ:CSX)

DekaBank Deutsche Girozentrale lifted its stake in shares of CSX Co. (NASDAQ:CSX) by 1.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,774,648 shares of the transportation company’s stock after acquiring an additional 25,315 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.09% of CSX worth $58,545,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its stake in CSX by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock worth $2,418,883,000 after purchasing an additional 443,755 shares during the last quarter. Capital International Investors lifted its stake in CSX by 14.3% in the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after purchasing an additional 5,041,679 shares during the last quarter. Fisher Asset Management LLC lifted its stake in CSX by 2.0% in the fourth quarter. Fisher Asset Management LLC now owns 22,340,864 shares of the transportation company’s stock worth $774,558,000 after purchasing an additional 433,228 shares during the last quarter. Norges Bank bought a new stake in CSX in the fourth quarter worth $757,276,000. Finally, Bank of New York Mellon Corp lifted its stake in CSX by 6.6% in the second quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock worth $573,128,000 after purchasing an additional 1,060,204 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CSX. Benchmark reissued a “buy” rating and issued a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. Stephens reissued an “overweight” rating and issued a $42.00 price target on shares of CSX in a research note on Tuesday, August 6th. Susquehanna upped their price objective on shares of CSX from $40.00 to $41.00 and gave the company a “positive” rating in a research note on Wednesday, August 7th. Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Monday, July 8th. Finally, Sanford C. Bernstein upped their price objective on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.80.

CSX Price Performance

Shares of CSX opened at $33.52 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. The stock has a market cap of $65.53 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19. The firm’s 50-day simple moving average is $33.91 and its two-hundred day simple moving average is $34.52. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX) last released its earnings results on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the prior year, the firm posted $0.49 earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. Analysts anticipate that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.12 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%. CSX’s dividend payout ratio is currently 26.37%.

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.