LPL Financial LLC Buys 13,094 Shares of CSX Corporation (NASDAQ:CSX)

Key Points

• LPL Financial LLC increased its holdings in CSX Corporation to $50.77 million, acquiring an additional 13,094 shares during the first quarter.
• CSX reported earnings per share (EPS) of $0.44 for the last quarter, exceeding estimates, with quarterly revenue standing at $3.57 billion, though down 3.5% year-over-year.
• The company announced a quarterly dividend of $0.13 per share, yielding around 1.5%, with a payout ratio of 32.1% currently.

LPL Financial LLC increased its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,725,206 shares of the transportation company's stock after buying an additional 13,094 shares during the period. LPL Financial LLC owned 0.09% of CSX worth $50,773,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in CSX during the 4th quarter valued at about $27,000. Rossby Financial LCC bought a new stake in shares of CSX in the 1st quarter valued at about $28,000. Accredited Wealth Management LLC bought a new stake in shares of CSX in the 4th quarter valued at about $29,000. Fourth Dimension Wealth LLC bought a new stake in shares of CSX in the 4th quarter valued at about $29,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in shares of CSX in the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 73.57% of the company's stock.

CSX Stock Performance

CSX stock traded up $0.05 during trading hours on Tuesday, hitting $35.51. 5,144,409 shares of the stock were exchanged, compared to its average volume of 16,007,307. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $66.19 billion, a P/E ratio of 21.92, a P/E/G ratio of 2.62 and a beta of 1.25. The company has a 50-day simple moving average of $33.23 and a two-hundred day simple moving average of $31.38. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. The firm had revenue of $3.57 billion for the quarter, compared to analysts' expectations of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%. The company's quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 EPS. On average, analysts forecast that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a $0.13 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.5%. CSX's dividend payout ratio (DPR) is presently 32.10%.

Wall Street Analysts Forecast Growth

CSX has been the subject of a number of research reports. Benchmark increased their target price on CSX from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Stifel Nicolaus lowered their target price on CSX from $37.00 to $34.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Argus set a $32.00 target price on CSX in a research note on Friday, April 25th. Baird R W raised CSX to a "strong-buy" rating in a research note on Tuesday, July 1st. Finally, Jefferies Financial Group lowered their target price on CSX from $37.00 to $33.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock 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.