LPL Financial LLC Purchases 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 lifted its position in CSX Corporation (NASDAQ:CSX - Free Report) by 0.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,725,206 shares of the transportation company's stock after buying an additional 13,094 shares during the quarter. LPL Financial LLC owned about 0.09% of CSX worth $50,773,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in CSX by 3.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 840,143 shares of the transportation company's stock valued at $24,725,000 after purchasing an additional 27,460 shares during the last quarter. Empirical Finance LLC grew its holdings in CSX by 1.7% during the 1st quarter. Empirical Finance LLC now owns 71,307 shares of the transportation company's stock worth $2,099,000 after acquiring an additional 1,226 shares during the last quarter. FourThought Financial Partners LLC grew its holdings in CSX by 7.1% during the 1st quarter. FourThought Financial Partners LLC now owns 101,187 shares of the transportation company's stock worth $2,978,000 after acquiring an additional 6,681 shares during the last quarter. Integrated Investment Consultants LLC boosted its stake in shares of CSX by 3.3% in the 1st quarter. Integrated Investment Consultants LLC now owns 19,205 shares of the transportation company's stock valued at $565,000 after purchasing an additional 605 shares during the last quarter. Finally, HB Wealth Management LLC boosted its stake in shares of CSX by 38.9% in the 1st quarter. HB Wealth Management LLC now owns 98,886 shares of the transportation company's stock valued at $2,910,000 after purchasing an additional 27,700 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Price Performance

Shares of NASDAQ CSX traded down $0.53 during trading hours on Friday, reaching $35.01. 19,265,718 shares of the stock traded hands, compared to its average volume of 20,105,130. The company has a market capitalization of $65.27 billion, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. CSX Corporation has a 52-week low of $26.22 and a 52-week high of $37.10. The company's 50-day simple moving average is $33.14 and its two-hundred day simple moving average is $31.38.

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

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 29th. CSX's payout ratio is 32.10%.

Wall Street Analysts Forecast Growth

CSX has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of CSX from a "hold" rating to a "buy" rating and set a $40.00 target price on the stock in a report on Thursday, July 24th. Barclays raised their target price on shares of CSX from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Citigroup lifted their price objective on shares of CSX from $36.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Baird R W raised CSX to a "strong-buy" rating in a report on Tuesday, July 1st. Finally, Benchmark boosted their price target on CSX from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, CSX currently has a consensus rating of "Moderate Buy" and a consensus 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.