Signet Investment Advisory Group Inc. Increases Stock Holdings in CSX Corporation (NASDAQ:CSX)

Signet Investment Advisory Group Inc. boosted its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 142,241 shares of the transportation company's stock after purchasing an additional 10,950 shares during the period. CSX comprises 2.1% of Signet Investment Advisory Group Inc.'s holdings, making the stock its 16th largest position. Signet Investment Advisory Group Inc.'s holdings in CSX were worth $4,186,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. purchased a new position in CSX in the fourth quarter worth $27,000. Rossby Financial LCC purchased a new position in CSX in the first quarter worth $28,000. Accredited Wealth Management LLC purchased a new position in CSX in the fourth quarter worth $29,000. Fourth Dimension Wealth LLC purchased a new position in CSX in the fourth quarter worth $29,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in CSX in the first quarter worth $30,000. Hedge funds and other institutional investors own 73.57% of the company's stock.

CSX Price Performance

Shares of NASDAQ CSX opened at $34.39 on Friday. The firm has a market capitalization of $64.60 billion, a P/E ratio of 20.59, a P/E/G ratio of 3.08 and a beta of 1.23. The company has a quick ratio of 0.75, a current ratio of 0.88 and a debt-to-equity ratio of 1.52. The stock's 50-day simple moving average is $32.27 and its two-hundred day simple moving average is $31.16. CSX Corporation has a twelve month low of $26.22 and a twelve month high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results 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 business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.53 billion. CSX had a return on equity of 26.42% and a net margin of 22.66%. As a group, equities analysts anticipate that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given 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 dividend yield of 1.51%. CSX's dividend payout ratio (DPR) is presently 31.14%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CSX. Royal Bank Of Canada dropped their price target on CSX from $31.00 to $30.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 17th. Raymond James Financial reissued an "outperform" rating and set a $37.00 price objective (up previously from $33.00) on shares of CSX in a report on Tuesday, July 15th. Bank of America raised CSX from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $34.00 to $42.00 in a report on Thursday. The Goldman Sachs Group reissued a "neutral" rating and set a $35.00 price objective on shares of CSX in a report on Monday, June 2nd. Finally, UBS Group dropped their price objective on CSX from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $35.14.

CSX 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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