University of Texas Texas AM Investment Management Co. Acquires Shares of 102,160 CSX Co. (NASDAQ:CSX)

University of Texas Texas AM Investment Management Co. purchased a new position in shares of CSX Co. (NASDAQ:CSX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 102,160 shares of the transportation company’s stock, valued at approximately $3,417,000.

A number of other hedge funds have also modified their holdings of CSX. Price T Rowe Associates Inc. MD grew its position in CSX by 18.1% during the 4th 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 last quarter. Capital International Investors increased its position in CSX by 14.3% in the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after acquiring an additional 5,041,679 shares during the period. Interval Partners LP raised its stake in CSX by 849.0% during the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock valued at $171,222,000 after acquiring an additional 4,579,344 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in CSX during the 2nd quarter valued at approximately $116,430,000. Finally, M&G Plc acquired a new stake in CSX during the 1st quarter worth approximately $126,089,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on CSX. Wells Fargo & Company assumed coverage on CSX in a research note on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target for the company. 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 report on Monday, July 8th. Sanford C. Bernstein lifted their target price on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday, July 8th. JPMorgan Chase & Co. upped their price objective on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Finally, Barclays lowered their target price on shares of CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and an average target price of $38.93.

CSX Price Performance

CSX stock opened at $34.52 on Wednesday. The firm’s 50-day moving average is $33.94 and its two-hundred day moving average is $34.17. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The stock has a market capitalization of $67.48 billion, a P/E ratio of 18.97, a P/E/G ratio of 1.91 and a beta of 1.19. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. CSX had a net margin of 24.52% and a return on equity of 29.11%. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the prior year, the company posted $0.49 EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. Equities analysts predict that CSX Co. will post 1.93 earnings per share for the current year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued 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 1.39%. CSX’s dividend payout ratio (DPR) is presently 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.