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

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in shares of CSX Co. (NASDAQ:CSX) by 2,992.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 quarter.

A number of other institutional investors also recently made changes to their positions in CSX. Tributary Capital Management LLC lifted its stake in CSX by 10.6% during the first quarter. Tributary Capital Management LLC now owns 20,900 shares of the transportation company’s stock worth $775,000 after purchasing an additional 2,000 shares during the last quarter. Oak Thistle LLC lifted its stake in CSX by 176.9% during the first quarter. Oak Thistle LLC now owns 22,764 shares of the transportation company’s stock worth $844,000 after purchasing an additional 14,544 shares during the last quarter. Claro Advisors LLC bought a new stake in CSX during the first quarter worth $211,000. Miracle Mile Advisors LLC lifted its stake in CSX by 0.3% during the first quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock worth $3,839,000 after purchasing an additional 303 shares during the last quarter. Finally, Kowal Investment Group LLC lifted its stake in CSX by 6.5% during the first quarter. Kowal Investment Group LLC now owns 6,956 shares of the transportation company’s stock worth $258,000 after purchasing an additional 423 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

NASDAQ:CSX traded up $0.17 during trading hours on Tuesday, hitting $33.76. 11,744,763 shares of the company were exchanged, compared to its average volume of 11,981,952. The company’s 50 day moving average price is $33.44 and its 200-day moving average price is $35.14. The stock 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 current ratio of 1.15 and a quick ratio of 1.00. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.48 earnings per share. As a group, research analysts forecast 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 of this dividend was Friday, May 31st. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CSX. Wells Fargo & Company started coverage on shares of CSX in a report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target for the company. Susquehanna cut their price objective on shares of CSX from $44.00 to $40.00 and set a “positive” rating on the stock in a research report on Tuesday, June 25th. Benchmark reaffirmed a “buy” rating and issued a $40.00 price target on shares of CSX in a research report on Thursday, April 18th. Bank of America decreased their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Finally, Jefferies Financial Group decreased their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.59.

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.