Zimmer Partners LP Acquires 7,500 Shares of CSX Corporation $CSX

Zimmer Partners LP grew its holdings in CSX Corporation (NASDAQ:CSX) by 9.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,000 shares of the transportation company’s stock after acquiring an additional 7,500 shares during the quarter. Zimmer Partners LP’s holdings in CSX were worth $2,649,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Associated Banc Corp increased its stake in shares of CSX by 0.9% in the 1st quarter. Associated Banc Corp now owns 40,384 shares of the transportation company’s stock valued at $1,189,000 after purchasing an additional 356 shares during the last quarter. Portside Wealth Group LLC grew its position in CSX by 1.3% in the first quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company’s stock valued at $804,000 after acquiring an additional 361 shares during the last quarter. Ullmann Wealth Partners Group LLC grew its position in CSX by 1.3% in the first quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company’s stock valued at $862,000 after acquiring an additional 363 shares during the last quarter. LRI Investments LLC raised its stake in CSX by 4.8% during the first quarter. LRI Investments LLC now owns 8,254 shares of the transportation company’s stock worth $243,000 after acquiring an additional 375 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. lifted its holdings in shares of CSX by 1.2% in the first quarter. Patrick M Sweeney & Associates Inc. now owns 32,205 shares of the transportation company’s stock worth $948,000 after acquiring an additional 378 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

CSX has been the topic of several research reports. BMO Capital Markets lowered shares of CSX from an “outperform” rating to a “market perform” rating and set a $38.00 price target on the stock. in a report on Monday, August 18th. JPMorgan Chase & Co. raised their target price on shares of CSX from $34.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Thursday, July 24th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $35.00 price target on shares of CSX in a research note on Monday, June 2nd. Finally, TD Cowen upgraded CSX from a “hold” rating to a “buy” rating and increased their price target for the company from $32.00 to $45.00 in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

CSX Price Performance

CSX stock opened at $32.43 on Tuesday. The company has a market capitalization of $60.46 billion, a P/E ratio of 20.02, a PEG ratio of 2.43 and a beta of 1.25. The company has a fifty day moving average price of $34.35 and a 200-day moving average price of $31.62. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. CSX Corporation has a 52-week low of $26.22 and a 52-week high of $37.25.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%.CSX’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. As a group, equities analysts expect that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, August 29th. CSX’s dividend payout ratio (DPR) is 32.10%.

About CSX

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.