First Trust Direct Indexing L.P. Has $1.81 Million Stock Position in CSX Co. (NASDAQ:CSX)

First Trust Direct Indexing L.P. boosted its position in shares of CSX Co. (NASDAQ:CSX) by 13.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,775 shares of the transportation company’s stock after acquiring an additional 5,808 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in CSX were worth $1,808,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of CSX during the 4th quarter worth approximately $757,276,000. Price T Rowe Associates Inc. MD boosted its position in CSX by 18.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock worth $2,246,893,000 after purchasing an additional 9,914,656 shares during the period. Capital International Investors increased its holdings in shares of CSX by 14.3% in the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after purchasing an additional 5,041,679 shares during the last quarter. M&G Investment Management Ltd. raised its position in shares of CSX by 25.5% in the fourth quarter. M&G Investment Management Ltd. now owns 3,993,901 shares of the transportation company’s stock valued at $139,787,000 after purchasing an additional 810,362 shares during the period. Finally, Morgan Stanley lifted its stake in shares of CSX by 3.1% during the 3rd quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock worth $748,471,000 after buying an additional 739,411 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Performance

Shares of CSX stock opened at $33.55 on Friday. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. The business has a 50 day moving average price of $33.41 and a 200-day moving average price of $35.11. The company has a market cap of $65.59 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.74 and a beta of 1.20.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the previous year, the firm earned $0.48 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. Equities analysts anticipate that CSX Co. will post 1.96 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Friday, May 31st. CSX’s payout ratio is currently 26.37%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CSX. Wells Fargo & Company started coverage on CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price objective on the stock. Benchmark restated a “buy” rating and issued a $40.00 price target on shares of CSX in a research report on Thursday, April 18th. Stifel Nicolaus raised their target price on shares of CSX from $37.00 to $39.00 and gave the company a “buy” rating in a report on Friday, April 12th. Susquehanna cut their price target on shares of CSX from $44.00 to $40.00 and set a “positive” rating for the company in a report on Tuesday, June 25th. Finally, UBS Group decreased their price objective on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.59.

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.