Brown Lisle Cummings Inc. lifted its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 368.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,802 shares of the transportation company's stock after buying an additional 27,368 shares during the period. Brown Lisle Cummings Inc.'s holdings in CSX were worth $1,024,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of CSX. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of CSX in the 4th quarter worth approximately $27,000. Accredited Wealth Management LLC acquired a new stake in CSX during the 4th quarter valued at $29,000. Fourth Dimension Wealth LLC acquired a new stake in CSX during the 4th quarter valued at $29,000. SBI Securities Co. Ltd. acquired a new stake in CSX during the 4th quarter valued at $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in CSX by 219.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,040 shares of the transportation company's stock valued at $34,000 after purchasing an additional 714 shares in the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.
CSX Stock Down 0.6%
Shares of CSX stock opened at $32.06 on Monday. The stock's 50-day moving average is $30.16 and its 200 day moving average is $31.07. CSX Corporation has a one year low of $26.22 and a one year high of $37.10. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.88 and a quick ratio of 0.75. The firm has a market cap of $60.23 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 2.81 and a beta of 1.24.
CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). CSX had a return on equity of 26.42% and a net margin of 22.66%. The firm had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. Equities research analysts anticipate that CSX Corporation will post 1.83 EPS for the current year.
CSX Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Friday, May 30th. CSX's dividend payout ratio (DPR) is currently 31.14%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the company. Bank of America raised their price target on CSX from $33.00 to $35.00 and gave the company a "neutral" rating in a report on Friday, June 13th. Royal Bank Of Canada dropped their price target on CSX from $31.00 to $30.00 and set a "sector perform" rating for the company in a report on Thursday, April 17th. Citigroup dropped their price target on CSX from $39.00 to $36.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company dropped their price target on CSX from $31.00 to $28.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $35.00 price target on shares of CSX in a report on Monday, June 2nd. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $34.14.
View Our Latest Report on CSX
CSX Company Profile
(
Free Report)
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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