Benjamin Edwards Inc. Has $1.65 Million Position in CSX Corporation (NASDAQ:CSX)

Key Points

• Benjamin Edwards Inc. has decreased its stake in CSX Corporation by 15.5%, selling 10,261 shares, and now holds 55,935 shares valued at approximately $1.646 million.
• Analysts have raised CSX's price targets, with Robert W. Baird hiking their target from $38 to $44 and others like Citigroup and Bank of America also upgrading their ratings.
• CSX announced a quarterly dividend of $0.13 per share, equating to an annualized dividend yield of 1.5%, with the payout set for September 15th.

Benjamin Edwards Inc. lessened its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 15.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,935 shares of the transportation company's stock after selling 10,261 shares during the period. Benjamin Edwards Inc.'s holdings in CSX were worth $1,646,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Associated Banc Corp raised its position in CSX by 0.9% in the 1st quarter. Associated Banc Corp now owns 40,384 shares of the transportation company's stock valued at $1,189,000 after purchasing an additional 356 shares during the last quarter. Portside Wealth Group LLC raised its position in CSX by 1.3% in the 1st quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company's stock valued at $804,000 after purchasing an additional 361 shares during the last quarter. Ullmann Wealth Partners Group LLC raised its position in CSX by 1.3% in the 1st quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company's stock valued at $862,000 after purchasing an additional 363 shares during the last quarter. LRI Investments LLC raised its position in CSX by 4.8% in the 1st quarter. LRI Investments LLC now owns 8,254 shares of the transportation company's stock valued at $243,000 after purchasing an additional 375 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. raised its position in CSX by 1.2% in the 1st quarter. Patrick M Sweeney & Associates Inc. now owns 32,205 shares of the transportation company's stock valued at $948,000 after purchasing an additional 378 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company's stock.

CSX Trading Down 0.1%

CSX stock traded down $0.03 during mid-day trading on Friday, hitting $36.32. The stock had a trading volume of 17,898,133 shares, compared to its average volume of 21,141,444. The stock has a 50-day simple moving average of $33.98 and a two-hundred day simple moving average of $31.57. The stock has a market capitalization of $67.71 billion, a PE ratio of 22.42, a P/E/G ratio of 2.71 and a beta of 1.25. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $37.10. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50.

CSX (NASDAQ:CSX - Get Free Report) last released its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. CSX had a return on equity of 25.48% and a net margin of 21.92%. The firm had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The company's quarterly revenue was down 3.5% on a year-over-year basis. As a group, sell-side analysts forecast that CSX Corporation will post 1.83 EPS for the current year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, August 29th. CSX's dividend payout ratio (DPR) is currently 32.10%.

Analysts Set New Price Targets

CSX has been the topic of a number of recent analyst reports. Bank of America raised shares of CSX from a "neutral" rating to a "buy" rating and upped their price target for the stock from $34.00 to $42.00 in a research note on Thursday, July 17th. Deutsche Bank Aktiengesellschaft raised shares of CSX from a "hold" rating to a "buy" rating and set a $40.00 price target on the stock in a research note on Thursday, July 24th. BMO Capital Markets increased their price objective on shares of CSX from $36.00 to $38.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Royal Bank Of Canada reissued a "sector perform" rating on shares of CSX in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $35.00 price objective on shares of CSX in a research note on Monday, June 2nd. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.