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

Shelton Capital Management boosted its position in CSX Co. (NASDAQ:CSX) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 184,883 shares of the transportation company’s stock after acquiring an additional 5,899 shares during the quarter. Shelton Capital Management’s holdings in CSX were worth $6,305,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC raised its holdings in CSX by 7.2% in the first quarter. ICA Group Wealth Management LLC now owns 5,306 shares of the transportation company’s stock valued at $159,000 after acquiring an additional 356 shares in the last quarter. Prospera Financial Services Inc raised its holdings in CSX by 36.6% during the second quarter. Prospera Financial Services Inc now owns 24,343 shares of the transportation company’s stock worth $831,000 after purchasing an additional 6,527 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in CSX by 42.6% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 18,121 shares of the transportation company’s stock worth $618,000 after purchasing an additional 5,416 shares in the last quarter. Maltin Wealth Management Inc. acquired a new stake in CSX during the second quarter worth approximately $588,000. Finally, Toroso Investments LLC raised its holdings in CSX by 13.2% during the first quarter. Toroso Investments LLC now owns 123,632 shares of the transportation company’s stock worth $3,702,000 after purchasing an additional 14,416 shares in the last quarter. Institutional investors and hedge funds own 72.76% of the company’s stock.

CSX Stock Performance

NASDAQ:CSX opened at $31.62 on Friday. The firm’s fifty day moving average price is $30.64 and its 200 day moving average price is $31.58. CSX Co. has a 1-year low of $27.60 and a 1-year high of $34.38. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.14 and a quick ratio of 1.00. The firm has a market cap of $62.49 billion, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 2.53 and a beta of 1.20.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, October 19th. The transportation company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. CSX had a net margin of 26.16% and a return on equity of 31.28%. The firm had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period last year, the firm posted $0.52 EPS. CSX’s quarterly revenue was down 8.3% on a year-over-year basis. On average, sell-side analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Wednesday, November 29th. CSX’s dividend payout ratio (DPR) is currently 23.40%.

Analysts Set New Price Targets

A number of research firms have weighed in on CSX. BMO Capital Markets reissued an “outperform” rating and set a $37.00 price objective on shares of CSX in a report on Friday, July 21st. Morgan Stanley reissued an “equal weight” rating and set a $25.00 price objective on shares of CSX in a report on Friday, July 21st. Citigroup cut their price objective on shares of CSX from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Argus raised their price objective on shares of CSX from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, July 25th. Finally, JPMorgan Chase & Co. upgraded shares of CSX from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $37.00 to $40.00 in a research report on Wednesday, October 11th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $36.00.

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.