First Western Trust Bank purchased a new stake in CSX Co. (NASDAQ:CSX – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,936 shares of the transportation company’s stock, valued at approximately $237,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Albion Financial Group UT purchased a new stake in CSX during the second quarter worth about $26,000. WFA of San Diego LLC acquired a new position in shares of CSX in the second quarter valued at approximately $29,000. Kalos Management Inc. purchased a new stake in CSX during the 1st quarter worth approximately $25,000. Fortis Capital Advisors LLC acquired a new stake in CSX during the 4th quarter worth approximately $27,000. Finally, Caldwell Sutter Capital Inc. boosted its position in CSX by 64.2% in the 2nd quarter. Caldwell Sutter Capital Inc. now owns 921 shares of the transportation company’s stock valued at $31,000 after buying an additional 360 shares during the period. 72.76% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. StockNews.com initiated coverage on CSX in a report on Thursday, October 5th. They set a “hold” rating on the stock. Barclays reduced their target price on shares of CSX from $40.00 to $38.00 in a report on Wednesday, October 4th. Benchmark reiterated a “buy” rating and set a $37.00 price target on shares of CSX in a report on Friday, October 20th. Bank of America raised their price objective on shares of CSX from $36.00 to $38.00 in a report on Friday, September 29th. Finally, JPMorgan Chase & Co. upgraded shares of CSX from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $37.00 to $40.00 in a research note on Wednesday, October 11th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.00.
CSX Price Performance
CSX stock opened at $31.99 on Tuesday. The firm has a 50 day moving average of $30.68 and a 200-day moving average of $31.59. The company has a market cap of $63.22 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 2.53 and a beta of 1.20. The company has a current ratio of 1.14, a quick ratio of 1.00 and a debt-to-equity ratio of 1.50. 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 (EPS) for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.55 billion. CSX had a return on equity of 31.28% and a net margin of 26.16%. CSX’s revenue was down 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 earnings per share. As a group, equities analysts expect that CSX Co. will post 1.83 EPS for the current fiscal year.
CSX Announces Dividend
The business 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 dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Wednesday, November 29th. CSX’s dividend payout ratio (DPR) is presently 23.40%.
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.
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