CSX Co. (NASDAQ:CSX) Shares Acquired by Brookstone Capital Management

Brookstone Capital Management lifted its holdings in CSX Co. (NASDAQ:CSXGet Rating) by 4.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,259 shares of the transportation company’s stock after purchasing an additional 1,143 shares during the quarter. Brookstone Capital Management’s holdings in CSX were worth $761,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CSX. American National Bank grew its position in CSX by 35.9% in the 1st quarter. American National Bank now owns 1,101 shares of the transportation company’s stock valued at $41,000 after buying an additional 291 shares during the last quarter. Acorn Wealth Advisors LLC increased its stake in shares of CSX by 1.0% during the first quarter. Acorn Wealth Advisors LLC now owns 30,075 shares of the transportation company’s stock worth $1,126,000 after acquiring an additional 305 shares during the period. Tilia Fiduciary Partners Inc. raised its holdings in CSX by 7.9% during the first quarter. Tilia Fiduciary Partners Inc. now owns 4,205 shares of the transportation company’s stock worth $157,000 after purchasing an additional 309 shares in the last quarter. Diversified Trust Co lifted its position in CSX by 1.7% in the first quarter. Diversified Trust Co now owns 18,921 shares of the transportation company’s stock valued at $709,000 after purchasing an additional 319 shares during the period. Finally, IndexIQ Advisors LLC boosted its holdings in CSX by 0.7% in the 1st quarter. IndexIQ Advisors LLC now owns 43,427 shares of the transportation company’s stock valued at $1,626,000 after purchasing an additional 320 shares in the last quarter. 73.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. Credit Suisse Group reduced their price target on CSX to $39.00 in a report on Tuesday. Barclays increased their price target on shares of CSX from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, July 21st. Stephens boosted their price objective on shares of CSX from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, July 21st. UBS Group dropped their target price on shares of CSX to $38.00 in a report on Friday, July 22nd. Finally, Wells Fargo & Company decreased their target price on CSX from $37.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Friday, July 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.42.

CSX Stock Performance

CSX stock opened at $28.57 on Friday. The stock has a fifty day moving average price of $31.96 and a 200 day moving average price of $32.57. CSX Co. has a 52 week low of $27.59 and a 52 week high of $38.63. The firm has a market capitalization of $61.18 billion, a P/E ratio of 16.05, a PEG ratio of 1.62 and a beta of 1.21. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.22.

CSX (NASDAQ:CSXGet Rating) last posted its quarterly earnings data on Wednesday, July 20th. The transportation company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. CSX had a net margin of 28.24% and a return on equity of 29.07%. The company had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the prior year, the company posted $0.40 EPS. The company’s quarterly revenue was up 27.8% compared to the same quarter last year. Equities research analysts anticipate that CSX Co. will post 1.89 earnings per share for the current year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Tuesday, August 30th. CSX’s dividend payout ratio is currently 22.47%.

About CSX

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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 transports chemicals, agricultural and food products, automotive, minerals, 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.

See Also

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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