HB Wealth Management LLC lifted its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 38.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,886 shares of the transportation company's stock after buying an additional 27,700 shares during the period. HB Wealth Management LLC's holdings in CSX were worth $2,910,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. purchased a new position in CSX in the 4th quarter valued at approximately $27,000. Rossby Financial LCC purchased a new position in CSX in the 1st quarter valued at approximately $28,000. Accredited Wealth Management LLC purchased a new position in CSX in the 4th quarter valued at approximately $29,000. Fourth Dimension Wealth LLC purchased a new position in CSX in the 4th quarter valued at approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in CSX in the 1st quarter valued at approximately $30,000. 73.57% of the stock is owned by hedge funds and other institutional investors.
CSX Trading Down 0.3%
CSX stock traded down $0.10 during midday trading on Thursday, reaching $35.19. The stock had a trading volume of 6,381,255 shares, compared to its average volume of 15,937,945. CSX Corporation has a twelve month low of $26.22 and a twelve month high of $37.10. The stock has a market capitalization of $65.60 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 2.65 and a beta of 1.23. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. The stock's 50-day simple moving average is $32.96 and its 200 day simple moving average is $31.33.
CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 EPS 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 company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period last year, the company posted $0.49 earnings per share. The firm's revenue was down 3.5% compared to the same quarter last year. Analysts expect that CSX Corporation will post 1.83 EPS for the current year.
CSX Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Friday, August 29th. CSX's dividend payout ratio (DPR) is presently 32.10%.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on CSX. Bank of America raised CSX from a "neutral" rating to a "buy" rating and raised their price objective for the company from $34.00 to $42.00 in a research note on Thursday, July 17th. Raymond James Financial raised their price target on CSX from $33.00 to $37.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. TD Cowen raised CSX from a "hold" rating to a "buy" rating and raised their price target for the stock from $32.00 to $45.00 in a research report on Monday, July 21st. Robert W. Baird raised their price target on CSX from $38.00 to $44.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Finally, Baird R W raised CSX to a "strong-buy" rating in a research report on Tuesday, July 1st. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $37.00.
Get Our Latest Research 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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