Moors & Cabot Inc. increased its holdings in CSX Co. (NASDAQ:CSX – Free Report) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,767 shares of the transportation company’s stock after acquiring an additional 1,423 shares during the quarter. Moors & Cabot Inc.’s holdings in CSX were worth $2,993,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Smith Anglin Financial LLC boosted its position in CSX by 4.7% during the second quarter. Smith Anglin Financial LLC now owns 7,182 shares of the transportation company’s stock valued at $245,000 after purchasing an additional 321 shares in the last quarter. Ronald Blue Trust Inc. boosted its holdings in shares of CSX by 1.2% in the 2nd quarter. Ronald Blue Trust Inc. now owns 27,846 shares of the transportation company’s stock valued at $834,000 after buying an additional 323 shares in the last quarter. Firethorn Wealth Partners LLC grew its position in shares of CSX by 0.7% in the 1st quarter. Firethorn Wealth Partners LLC now owns 49,495 shares of the transportation company’s stock worth $1,549,000 after buying an additional 325 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of CSX by 1.5% during the 1st quarter. Brown Brothers Harriman & Co. now owns 22,797 shares of the transportation company’s stock worth $683,000 after acquiring an additional 327 shares in the last quarter. Finally, Relyea Zuckerberg Hanson LLC lifted its position in CSX by 2.4% during the second quarter. Relyea Zuckerberg Hanson LLC now owns 14,280 shares of the transportation company’s stock valued at $487,000 after acquiring an additional 328 shares during the last quarter. 72.76% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on the company. Stephens reaffirmed an “overweight” rating and set a $39.00 price target on shares of CSX in a research report on Friday, July 21st. Susquehanna decreased their price target on CSX from $36.00 to $33.00 and set a “neutral” rating for the company in a research note on Tuesday, October 3rd. StockNews.com initiated coverage on CSX in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Argus increased their price objective on shares of CSX from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. Finally, Barclays dropped their target price on shares of CSX from $40.00 to $38.00 in a research report on Wednesday, October 4th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $36.00.
CSX Stock Performance
CSX stock traded up $0.06 during mid-day trading on Thursday, hitting $31.05. The company had a trading volume of 1,839,149 shares, compared to its average volume of 13,072,156. The company has a current ratio of 1.14, a quick ratio of 1.00 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $61.36 billion, a price-to-earnings ratio of 16.48, a P/E/G ratio of 2.48 and a beta of 1.20. The company’s fifty day moving average is $30.57 and its 200-day moving average is $31.58. CSX Co. has a 12-month low of $27.60 and a 12-month high of $34.38.
CSX (NASDAQ:CSX – Get Free Report) last issued its quarterly earnings data on Thursday, October 19th. The transportation company reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. CSX had a net margin of 26.16% and a return on equity of 31.28%. The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the prior year, the firm posted $0.52 earnings per share. The company’s revenue was down 8.3% compared to the same quarter last year. Equities research analysts predict that CSX Co. will post 1.83 EPS for the current year.
CSX Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Wednesday, November 29th. CSX’s dividend payout ratio (DPR) is presently 23.40%.
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.
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