Ransom Advisory Ltd Acquires New Position in CSX Corporation $CSX

Key Points

• Ransom Advisory Ltd has acquired a new stake in CSX Corporation, purchasing 13,700 shares valued at approximately $403,000 during the first quarter.
• Multiple analysts have raised their price targets for CSX stock, with Bank of America upgrading it from "neutral" to "buy" and setting a new price objective of $42.00.
• CSX recently announced a quarterly dividend of $0.13 per share, with an ex-dividend date of August 29th, representing a yield of 1.6%.

Ransom Advisory Ltd acquired a new stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,700 shares of the transportation company's stock, valued at approximately $403,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Associated Banc Corp lifted its position in shares of CSX by 0.9% in the 1st quarter. Associated Banc Corp now owns 40,384 shares of the transportation company's stock worth $1,189,000 after buying an additional 356 shares during the last quarter. Portside Wealth Group LLC lifted its position in shares of CSX by 1.3% in the 1st quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company's stock worth $804,000 after buying an additional 361 shares during the last quarter. Ullmann Wealth Partners Group LLC lifted its position in shares of CSX by 1.3% in the 1st quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company's stock worth $862,000 after buying an additional 363 shares during the last quarter. LRI Investments LLC lifted its position in shares of CSX by 4.8% in the 1st quarter. LRI Investments LLC now owns 8,254 shares of the transportation company's stock worth $243,000 after buying an additional 375 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. lifted its position in shares of CSX by 1.2% in the 1st quarter. Patrick M Sweeney & Associates Inc. now owns 32,205 shares of the transportation company's stock worth $948,000 after buying an additional 378 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CSX. Wells Fargo & Company raised their price target on shares of CSX from $35.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Raymond James Financial raised their price target on shares of CSX from $33.00 to $37.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. BMO Capital Markets downgraded shares of 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. Bank of America upgraded shares of CSX from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $34.00 to $42.00 in a research report on Thursday, July 17th. Finally, Barclays lifted their price objective on shares of CSX from $36.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. One equities 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. According to data from MarketBeat.com, CSX currently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

CSX Stock Down 0.7%

CSX stock opened at $32.20 on Wednesday. The stock has a market cap of $60.03 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 2.42 and a beta of 1.25. 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 company's 50-day moving average price is $34.32 and its two-hundred day moving average price is $31.63. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.25.

CSX (NASDAQ:CSX - Get Free Report) last released its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, beating 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 net margin of 21.92% and a return on equity of 25.48%. CSX's quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the company earned $0.49 EPS. On average, analysts expect that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Dividend Announcement

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 paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 annualized dividend and a yield of 1.6%. CSX's dividend payout ratio (DPR) is presently 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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