MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Purchases 121,869 Shares of CSX Co. (NASDAQ:CSX)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in CSX Co. (NASDAQ:CSX) by 2,992.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 125,941 shares of the transportation company’s stock after acquiring an additional 121,869 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in CSX were worth $4,669,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Miracle Mile Advisors LLC grew its stake in shares of CSX by 0.3% during the first quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock valued at $3,839,000 after buying an additional 303 shares during the last quarter. High Net Worth Advisory Group LLC grew its stake in CSX by 1.7% in the fourth quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock valued at $614,000 after purchasing an additional 304 shares during the last quarter. Stratos Wealth Advisors LLC grew its stake in CSX by 1.1% during the 4th quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock worth $978,000 after buying an additional 304 shares during the last quarter. Cornercap Investment Counsel Inc. increased its holdings in shares of CSX by 0.3% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock valued at $4,169,000 after acquiring an additional 309 shares in the last quarter. Finally, FCA Corp TX raised its holdings in shares of CSX by 0.3% in the fourth quarter. FCA Corp TX now owns 115,572 shares of the transportation company’s stock worth $4,007,000 after buying an additional 339 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

CSX has been the topic of a number of research reports. Royal Bank of Canada cut their price objective on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday, April 18th. Jefferies Financial Group dropped their price objective on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. Wells Fargo & Company initiated coverage on shares of CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 target price for the company. Benchmark reiterated a “buy” rating and set a $40.00 price objective on shares of CSX in a research note on Thursday, April 18th. Finally, Stifel Nicolaus upped their target price on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $37.59.

CSX Price Performance

Shares of CSX stock traded up $0.17 during trading hours on Tuesday, reaching $33.76. The company had a trading volume of 11,744,763 shares, compared to its average volume of 11,981,952. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The company has a market capitalization of $66.00 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 1.73 and a beta of 1.20. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The stock has a fifty day moving average of $33.44 and a 200-day moving average of $35.14.

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

CSX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.42%. The ex-dividend date was Friday, May 31st. CSX’s dividend payout ratio (DPR) is presently 26.37%.

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.