Assetmark Inc. Grows Stock Holdings in CSX Corporation (NASDAQ:CSX)

Key Points

• Assetmark Inc. increased its stake in CSX Corporation by 1.9%, owning 432,306 shares valued at approximately $12.7 million as of the latest SEC filing.
• Several institutional investors also raised their positions in CSX, with notable increases including a 61.4% lift by Farther Finance Advisors LLC.
• CSX recently announced a quarterly dividend of $0.13 per share, reflecting an annualized payout of $0.52 and a dividend yield of 1.45%.

Assetmark Inc. grew its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 1.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 432,306 shares of the transportation company's stock after purchasing an additional 7,907 shares during the period. Assetmark Inc.'s holdings in CSX were worth $12,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wellington Management Group LLP increased its position in CSX by 14.7% during the fourth quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company's stock worth $3,794,000 after purchasing an additional 15,029 shares during the last quarter. CWA Asset Management Group LLC raised its position in shares of CSX by 15.1% during the 1st quarter. CWA Asset Management Group LLC now owns 12,514 shares of the transportation company's stock valued at $368,000 after buying an additional 1,642 shares during the period. Dynamic Advisor Solutions LLC lifted its holdings in CSX by 9.8% in the first quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company's stock valued at $1,141,000 after acquiring an additional 3,458 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in CSX by 61.4% in the first quarter. Farther Finance Advisors LLC now owns 14,154 shares of the transportation company's stock valued at $418,000 after acquiring an additional 5,382 shares during the last quarter. Finally, Cercano Management LLC purchased a new position in CSX in the fourth quarter worth approximately $4,869,000. Institutional investors and hedge funds own 73.57% of the company's stock.

CSX Stock Performance

Shares of CSX opened at $35.76 on Friday. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.10. The stock has a market capitalization of $66.67 billion, a PE ratio of 22.07, a PEG ratio of 3.20 and a beta of 1.23. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.75 and a current ratio of 0.77. The stock has a 50-day simple moving average of $32.69 and a 200-day simple moving average of $31.26.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The company had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The firm's quarterly revenue was down 3.5% on a year-over-year basis. On average, analysts predict that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.45%. CSX's payout ratio is currently 32.10%.

Analyst Ratings Changes

CSX has been the topic of several recent analyst reports. Royal Bank Of Canada decreased their price target on CSX from $31.00 to $30.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 17th. Citigroup upped their target price on shares of CSX from $36.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Jefferies Financial Group lowered their target price on shares of CSX from $37.00 to $33.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Benchmark boosted their price target on shares of CSX from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Bank of America upgraded shares of CSX from a "neutral" rating to a "buy" rating and lifted their target price for the company from $34.00 to $42.00 in a report on Thursday, July 17th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

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 also 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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