CSX Co. (NASDAQ:CSX) Shares Purchased by First Hawaiian Bank

First Hawaiian Bank boosted its stake in CSX Co. (NASDAQ:CSX) by 8.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 38,307 shares of the transportation company’s stock after acquiring an additional 3,103 shares during the quarter. First Hawaiian Bank’s holdings in CSX were worth $1,306,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CSX. Bornite Capital Management LP purchased a new position in CSX in the 1st quarter valued at $14,980,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of CSX by 6.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,158,544 shares of the transportation company’s stock worth $230,637,000 after acquiring an additional 347,514 shares during the period. Blair William & Co. IL raised its holdings in shares of CSX by 12.7% during the 1st quarter. Blair William & Co. IL now owns 122,334 shares of the transportation company’s stock worth $4,581,000 after acquiring an additional 13,829 shares during the period. Sei Investments Co. raised its holdings in shares of CSX by 4.5% during the 1st quarter. Sei Investments Co. now owns 195,872 shares of the transportation company’s stock worth $7,361,000 after acquiring an additional 8,488 shares during the period. Finally, Cetera Investment Advisers raised its holdings in shares of CSX by 16.8% during the 1st quarter. Cetera Investment Advisers now owns 71,521 shares of the transportation company’s stock worth $2,678,000 after acquiring an additional 10,276 shares during the period. Hedge funds and other institutional investors own 72.76% of the company’s stock.

CSX Trading Down 0.6 %

Shares of CSX stock opened at $30.85 on Friday. The business’s fifty day moving average price is $31.70 and its 200 day moving average price is $31.36. CSX Co. has a 1-year low of $25.80 and a 1-year high of $34.38. The firm has a market capitalization of $61.90 billion, a PE ratio of 15.58, a P/E/G ratio of 2.63 and a beta of 1.22. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.42 and a quick ratio of 1.21.

CSX (NASDAQ:CSX) last posted its earnings results on Thursday, July 20th. The transportation company reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.73 billion. CSX had a return on equity of 32.82% and a net margin of 27.36%. CSX’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 earnings per share. As a group, sell-side analysts forecast that CSX Co. will post 1.9 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were given a $0.11 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.44 annualized dividend and a dividend yield of 1.43%. CSX’s dividend payout ratio is currently 22.22%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CSX. Morgan Stanley reissued an “equal weight” rating and set a $25.00 price objective on shares of CSX in a research report on Friday, July 21st. JPMorgan Chase & Co. lifted their target price on CSX from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. BMO Capital Markets reaffirmed an “outperform” rating and issued a $37.00 target price on shares of CSX in a research report on Friday, July 21st. Benchmark reaffirmed a “buy” rating and issued a $37.00 target price on shares of CSX in a research report on Friday, July 21st. Finally, Royal Bank of Canada downgraded CSX from an “outperform” rating to a “sector perform” rating and set a $35.00 target price for the company. in a research report on Monday, July 31st. Nine analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.43.

CSX 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.