MBB Public Markets I LLC Acquires New Shares in CSX Corporation $CSX

Key Points

• MBB Public Markets I LLC has acquired a new stake in CSX Corporation, purchasing 10,572 shares valued at approximately $311,000, reflecting growing institutional interest in the company.
• Several analysts have adjusted their ratings for CSX, with BMO Capital Markets lowering its rating to "market perform" and Bank of America upgrading it to "buy" with a price target increase to $42.00.
• CSX has recently announced a quarterly dividend of $0.13, providing an annualized yield of 1.6%, alongside a quarterly EPS of $0.44 that surpassed analysts' expectations.

MBB Public Markets I LLC acquired a new stake in CSX Corporation (NASDAQ:CSX - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,572 shares of the transportation company's stock, valued at approximately $311,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CSX. Rossby Financial LCC bought a new position in CSX in the 1st quarter valued at approximately $28,000. Fourth Dimension Wealth LLC bought a new position in CSX in the 4th quarter valued at approximately $29,000. Barnes Dennig Private Wealth Management LLC bought a new position in CSX in the 1st quarter valued at approximately $30,000. Kessler Investment Group LLC bought a new position in CSX in the 1st quarter valued at approximately $32,000. Finally, Cornerstone Planning Group LLC lifted its position in CSX by 45.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 1,414 shares of the transportation company's stock valued at $39,000 after acquiring an additional 444 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on CSX. BMO Capital Markets cut CSX from an "outperform" rating to a "market perform" rating and set a $38.00 price objective on the stock. in a research report on Monday, August 18th. Robert W. Baird upped their price objective on CSX from $38.00 to $44.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Susquehanna reiterated a "neutral" rating and set a $35.00 target price on shares of CSX in a research note on Tuesday, June 24th. Bank of America raised CSX from a "neutral" rating to a "buy" rating and increased their price target for the company from $34.00 to $42.00 in a report on Thursday, July 17th. Finally, Wall Street Zen cut CSX from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $37.00.

CSX Price Performance

NASDAQ CSX opened at $32.05 on Thursday. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.25. The business's fifty day moving average price is $34.29 and its 200-day moving average price is $31.63. The stock has a market capitalization of $59.75 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 2.40 and a beta of 1.25. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63.

CSX (NASDAQ:CSX - Get Free Report) last announced its 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 company had revenue of $3.57 billion for the quarter, compared to analysts' expectations of $3.57 billion. During the same period last year, the firm earned $0.49 EPS. CSX's revenue for the quarter was down 3.5% compared to the same quarter last year. On average, equities analysts predict that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 29th. CSX's dividend payout ratio (DPR) is currently 32.10%.

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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