Davis R M Inc. Purchases 20,657 Shares of CSX Corporation (NASDAQ:CSX)

Key Points

• Davis R M Inc. significantly increased its holdings in CSX Corporation by 151.0%, acquiring a total of 34,337 shares valued at approximately $1,011,000.
• CSX recently reported earnings of $0.44 per share, exceeding analysts' estimates, though its revenue was down 3.5% compared to the prior year's quarter.
• The company plans to pay a quarterly dividend of $0.13 per share on September 15th, representing an annualized yield of 1.5%.

Davis R M Inc. raised its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 151.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,337 shares of the transportation company's stock after buying an additional 20,657 shares during the period. Davis R M Inc.'s holdings in CSX were worth $1,011,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings in shares of 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 period. CWA Asset Management Group LLC lifted its stake in shares of CSX by 15.1% in the first quarter. CWA Asset Management Group LLC now owns 12,514 shares of the transportation company's stock worth $368,000 after buying an additional 1,642 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its stake in shares of CSX by 9.8% in the first quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company's stock worth $1,141,000 after buying an additional 3,458 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of CSX by 61.4% in the first quarter. Farther Finance Advisors LLC now owns 14,154 shares of the transportation company's stock worth $418,000 after buying an additional 5,382 shares during the last quarter. Finally, Cercano Management LLC acquired a new stake in shares of CSX in the fourth quarter worth $4,869,000. Institutional investors and hedge funds own 73.57% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CSX. Deutsche Bank Aktiengesellschaft raised shares of CSX from a "hold" rating to a "buy" rating and set a $40.00 target price on the stock in a research report on Thursday, July 24th. Argus set a $32.00 target price on shares of CSX in a research report on Friday, April 25th. Bank of America upgraded shares of CSX from a "neutral" rating to a "buy" rating and increased their price objective for the company from $34.00 to $42.00 in a research note on Thursday, July 17th. TD Cowen upgraded shares of CSX from a "hold" rating to a "buy" rating and increased their price objective for the company from $32.00 to $45.00 in a research note on Monday, July 21st. Finally, Wells Fargo & Company increased their price objective on shares of CSX from $35.00 to $37.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

CSX Trading Up 0.4%

Shares of NASDAQ:CSX traded up $0.14 during mid-day trading on Tuesday, reaching $35.60. The stock had a trading volume of 5,387,524 shares, compared to its average volume of 16,009,134. 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 Corporation has a twelve month low of $26.22 and a twelve month high of $37.10. The firm has a 50 day simple moving average of $33.23 and a two-hundred day simple moving average of $31.38. The firm has a market cap of $66.36 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, beating 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 firm had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the firm posted $0.49 earnings per share. The business's revenue was down 3.5% on a year-over-year basis. On average, research analysts predict that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid 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 of this dividend is Friday, August 29th. CSX's dividend payout ratio (DPR) is currently 32.10%.

CSX Company 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.