Tounjian Advisory Partners LLC Makes New Investment in CSX Co. (NASDAQ:CSX)

Tounjian Advisory Partners LLC purchased a new stake in shares of CSX Co. (NASDAQ:CSX) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 81,112 shares of the transportation company’s stock, valued at approximately $2,387,000.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in CSX by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company’s stock worth $1,339,555,000 after purchasing an additional 726,507 shares during the last quarter. Invesco Ltd. grew its holdings in shares of CSX by 13.5% in the fourth quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company’s stock worth $810,076,000 after acquiring an additional 2,977,212 shares during the period. Fisher Asset Management LLC increased its position in CSX by 1.2% during the fourth quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock valued at $805,345,000 after acquiring an additional 299,536 shares during the last quarter. Norges Bank bought a new position in CSX in the fourth quarter valued at about $780,194,000. Finally, Bank of New York Mellon Corp boosted its position in CSX by 40.5% in the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after purchasing an additional 6,730,316 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CSX. Citigroup dropped their price objective on shares of CSX from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Argus set a $32.00 price target on shares of CSX in a research note on Friday, April 25th. Benchmark restated a “buy” rating and issued a $35.00 price objective on shares of CSX in a research note on Thursday, April 17th. Wells Fargo & Company decreased their target price on CSX from $31.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. Finally, Deutsche Bank Aktiengesellschaft began coverage on CSX in a report on Friday, March 7th. They set a “hold” rating and a $34.00 price target for the company. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.95.

CSX Stock Up 1.5%

CSX stock opened at $32.23 on Monday. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The company’s 50-day moving average price is $29.28 and its 200 day moving average price is $31.34. CSX Co. has a 52 week low of $26.22 and a 52 week high of $37.10. The company has a market cap of $60.55 billion, a P/E ratio of 18.01, a P/E/G ratio of 1.92 and a beta of 1.24.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). The business had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, research analysts expect that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Friday, May 30th. CSX’s payout ratio is 31.14%.

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.