Ballentine Partners LLC Boosts Stake in CSX Corporation (NASDAQ:CSX)

Ballentine Partners LLC lifted its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 23.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,086 shares of the transportation company's stock after acquiring an additional 9,968 shares during the quarter. Ballentine Partners LLC's holdings in CSX were worth $1,562,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CSX. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of CSX in the 4th quarter valued at about $27,000. Rossby Financial LCC acquired a new stake in CSX during the first quarter valued at approximately $28,000. Accredited Wealth Management LLC bought a new position in CSX during the 4th quarter worth approximately $29,000. Fourth Dimension Wealth LLC acquired a new position in shares of CSX in the 4th quarter worth approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in shares of CSX in the 1st quarter valued at approximately $30,000. Institutional investors and hedge funds own 73.57% of the company's stock.

CSX Trading Up 1.7%

NASDAQ:CSX opened at $34.10 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 cap of $64.06 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 3.00 and a beta of 1.23. The business has a fifty day moving average of $31.73 and a 200-day moving average of $31.10. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.75 and a current ratio of 0.88.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 26.42% and a net margin of 22.66%. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.53 billion. Equities analysts predict that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.52%. CSX's payout ratio is 31.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company boosted their price target on CSX from $28.00 to $35.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $36.00 price target (up from $33.00) on shares of CSX in a report on Tuesday. Baird R W upgraded CSX to a "strong-buy" rating in a report on Tuesday, July 1st. The Goldman Sachs Group reiterated a "neutral" rating and issued a $35.00 price target on shares of CSX in a report on Monday, June 2nd. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $33.00 price target (down from $34.00) on shares of CSX in a report on Thursday, April 17th. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.64.

About CSX

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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