Focus Partners Wealth Increases Stock Position in CSX Corporation $CSX

Key Points

• Focus Partners Wealth increased its stake in CSX Corporation by 6.7%, owning approximately 1.4 million shares valued at $42.6 million as of the end of the first quarter.
• CSX recently reported earnings of $0.44 per share, surpassing analysts' expectations, while also announcing a quarterly dividend of $0.13, reflecting a 1.6% yield.
• Equities analysts have a generally positive outlook on CSX, with several raising their price targets and ratings, indicating strong interest and potential growth in the company's stock.

Focus Partners Wealth raised its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 6.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,447,099 shares of the transportation company's stock after buying an additional 90,313 shares during the period. Focus Partners Wealth owned about 0.08% of CSX worth $42,588,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Fourth Dimension Wealth LLC purchased a new stake in CSX during the 4th quarter valued at $29,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in CSX during the 1st quarter valued at $30,000. Rossby Financial LCC purchased a new stake in CSX during the 1st quarter valued at $28,000. Kessler Investment Group LLC purchased a new stake in CSX during the 1st quarter valued at $32,000. Finally, Putney Financial Group LLC purchased a new stake in CSX during the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 73.57% of the company's stock.

CSX Stock Down 0.5%

NASDAQ:CSX opened at $32.05 on Thursday. The firm has a market cap of $59.75 billion, a P/E ratio of 19.78, a P/E/G ratio of 2.40 and a beta of 1.25. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week high of $37.25. The firm has a 50-day simple moving average of $34.29 and a two-hundred day simple moving average of $31.63.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings data 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 business had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period last year, the business earned $0.49 EPS. CSX's revenue was down 3.5% compared to the same quarter last year. Analysts predict that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 29th. CSX's payout ratio is presently 32.10%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of CSX from a "hold" rating to a "buy" rating and set a $40.00 target price for the company in a research report on Thursday, July 24th. Susquehanna reaffirmed a "neutral" rating and issued a $35.00 target price on shares of CSX in a research report on Tuesday, June 24th. Citigroup increased their price target on shares of CSX from $36.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Bank of America upgraded shares of CSX from a "neutral" rating to a "buy" rating and increased their price target for the stock from $34.00 to $42.00 in a research note on Thursday, July 17th. Finally, Robert W. Baird increased their price target on shares of CSX from $38.00 to $44.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, CSX currently has an average rating of "Moderate Buy" and an average price target of $37.00.

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.

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