CSX Co. (NASDAQ:CSX) Shares Purchased by Cedar Brook Financial Partners LLC

Cedar Brook Financial Partners LLC boosted its holdings in CSX Co. (NASDAQ:CSX) by 7.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 91,933 shares of the transportation company’s stock after buying an additional 6,525 shares during the quarter. CSX accounts for about 0.7% of Cedar Brook Financial Partners LLC’s investment portfolio, making the stock its 24th largest position. Cedar Brook Financial Partners LLC’s holdings in CSX were worth $3,135,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Thompson Investment Management Inc. acquired a new position in CSX in the 1st quarter worth approximately $25,000. Kalos Management Inc. acquired a new position in CSX in the 1st quarter worth approximately $25,000. Fortis Capital Advisors LLC acquired a new position in CSX in the 4th quarter worth approximately $27,000. TimeScale Financial Inc. boosted its stake in shares of CSX by 1,391.8% during the 1st quarter. TimeScale Financial Inc. now owns 910 shares of the transportation company’s stock valued at $27,000 after buying an additional 849 shares during the period. Finally, Graham Capital Wealth Management LLC acquired a new stake in shares of CSX during the 1st quarter valued at $311,675,000. Institutional investors and hedge funds own 72.76% of the company’s stock.

CSX Stock Performance

Shares of NASDAQ:CSX traded up $0.42 on Thursday, hitting $30.92. 1,070,680 shares of the company were exchanged, compared to its average volume of 13,016,152. The company’s 50 day moving average price is $31.82 and its two-hundred day moving average price is $31.37. CSX Co. has a one year low of $25.80 and a one year high of $34.38. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.21 and a current ratio of 1.42. The firm has a market capitalization of $62.04 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 2.54 and a beta of 1.22.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, July 20th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. CSX had a net margin of 27.36% and a return on equity of 32.82%. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. The business’s revenue was down 3.1% compared to the same quarter last year. Research analysts expect that CSX Co. will post 1.9 earnings per share for the current year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.44 annualized dividend and a dividend yield of 1.42%. CSX’s dividend payout ratio (DPR) is currently 22.22%.

Wall Street Analysts Forecast Growth

CSX has been the subject of a number of research reports. Citigroup decreased their target price on shares of CSX from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Stephens reissued an “overweight” rating and set a $39.00 target price on shares of CSX in a research note on Friday, July 21st. BMO Capital Markets reissued an “outperform” rating and set a $37.00 target price on shares of CSX in a research note on Friday, July 21st. Morgan Stanley restated an “equal weight” rating and set a $25.00 price target on shares of CSX in a report on Friday, July 21st. Finally, StockNews.com started coverage on shares of CSX in a report on Thursday, August 17th. They set a “hold” rating on the stock. Ten analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and an average target price of $35.29.

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 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.