CSX Corporation $CSX Shares Bought by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors LLC significantly increased its stake in CSX Corporation by 89.0% during the 2nd quarter, acquiring 12,591 additional shares, bringing their total holdings to 26,745 shares valued at $873,000.
• CSX recently reported earnings of $0.44 per share, beating analysts' expectations, but the revenue declined by 3.5% year-over-year, totaling $3.57 billion.
• CSX announced a quarterly dividend of $0.13 per share with a yield of 1.5%, and the stock is currently rated as a "Moderate Buy" by analysts with a consensus price target of $37.59.

Farther Finance Advisors LLC grew its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 89.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,745 shares of the transportation company's stock after purchasing an additional 12,591 shares during the quarter. Farther Finance Advisors LLC's holdings in CSX were worth $873,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen LLC acquired a new position in CSX during the first quarter worth approximately $182,550,000. Bank of New York Mellon Corp grew its position in shares of CSX by 21.6% during the first quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company's stock worth $835,336,000 after acquiring an additional 5,033,743 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of CSX by 1,283.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,190,452 shares of the transportation company's stock valued at $123,786,000 after acquiring an additional 3,887,644 shares during the period. Amundi raised its position in CSX by 34.5% in the 1st quarter. Amundi now owns 13,017,397 shares of the transportation company's stock valued at $364,357,000 after purchasing an additional 3,341,136 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in CSX by 12.5% in the 1st quarter. Ameriprise Financial Inc. now owns 23,456,085 shares of the transportation company's stock valued at $690,359,000 after purchasing an additional 2,599,518 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Trading Down 0.1%

NASDAQ CSX opened at $33.78 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $62.98 billion, a P/E ratio of 20.85, a P/E/G ratio of 2.53 and a beta of 1.25. CSX Corporation has a 52-week low of $26.22 and a 52-week high of $37.25. The firm has a 50-day moving average price of $34.19 and a 200 day moving average price of $31.75.

CSX (NASDAQ:CSX - Get Free Report) last issued its 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. The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%.The company's revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 EPS. Equities research analysts expect that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, August 29th. CSX's payout ratio is presently 32.10%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CSX. Bank of America lowered their price objective on shares of CSX from $42.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday. Citigroup raised their price target on CSX from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Baird R W upgraded CSX to a "strong-buy" rating in a research report on Tuesday, July 1st. Benchmark upped their price objective on CSX from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, TD Cowen upgraded CSX from a "hold" rating to a "buy" rating and lifted their target price for the company from $32.00 to $45.00 in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, CSX currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.59.

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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