Hennion & Walsh Asset Management Inc. purchased a new position in CSX Co. (NASDAQ:CSX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,861 shares of the transportation company's stock, valued at approximately $555,000.
A number of other hedge funds have also modified their holdings of CSX. Marshall & Sterling Wealth Advisors Inc. bought a new position in CSX in the fourth quarter valued at approximately $27,000. Accredited Wealth Management LLC bought a new position in CSX in the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC bought a new position in CSX in the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. bought a new position in CSX in the fourth quarter valued at approximately $31,000. Finally, Sierra Ocean LLC bought a new position in CSX in the fourth quarter valued at approximately $33,000. 73.57% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research analysts have weighed in on the company. Bank of America raised their price target on CSX from $30.00 to $31.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $35.00 price objective on shares of CSX in a research report on Monday, June 2nd. Barclays cut their price objective on CSX from $35.00 to $31.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. BMO Capital Markets cut their price objective on CSX from $36.00 to $35.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Finally, Argus set a $32.00 price objective on CSX in a research report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.95.
View Our Latest Research Report on CSX
CSX Trading Up 1.5%
Shares of CSX stock opened at $32.23 on Monday. The firm has a market capitalization of $60.55 billion, a P/E ratio of 18.01, a P/E/G ratio of 1.92 and a beta of 1.24. CSX Co. has a twelve month low of $26.22 and a twelve month high of $37.10. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The stock's fifty day simple moving average is $29.28 and its 200 day simple moving average is $31.34.
CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. As a group, sell-side analysts predict that CSX Co. will post 1.83 EPS for the current fiscal year.
CSX Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a $0.13 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.61%. CSX's dividend payout ratio (DPR) is presently 31.14%.
CSX Profile
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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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