Vident Advisory LLC Boosts Stock Position in CSX Corporation $CSX

Key Points

• Vident Advisory LLC increased its stake in CSX Corporation by 130.2%, acquiring an additional 58,205 shares to total 102,926 shares valued at approximately $3.03 million.
• CSX recently announced a quarterly dividend of $0.13 per share, representing a yield of 1.6%, with the payout scheduled for September 15th.
• Equities analysts have given CSX a consensus rating of "Moderate Buy" with a target price of $37.00, reflecting optimism despite a reported revenue decline of 3.5% year-over-year.

Vident Advisory LLC boosted its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 130.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,926 shares of the transportation company's stock after acquiring an additional 58,205 shares during the quarter. Vident Advisory LLC's holdings in CSX were worth $3,029,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Associated Banc Corp lifted its position in shares of CSX by 0.9% during the first quarter. Associated Banc Corp now owns 40,384 shares of the transportation company's stock worth $1,189,000 after purchasing an additional 356 shares in the last quarter. Portside Wealth Group LLC grew its holdings in shares of CSX by 1.3% in the first quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company's stock valued at $804,000 after purchasing an additional 361 shares in the last quarter. Ullmann Wealth Partners Group LLC increased its stake in CSX by 1.3% during 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 period. LRI Investments LLC lifted its holdings in CSX by 4.8% during 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 in the last quarter. Finally, Patrick M Sweeney & Associates Inc. lifted its holdings in CSX by 1.2% during 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 in the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Price Performance

Shares of NASDAQ CSX opened at $32.51 on Monday. The stock's 50-day simple moving average is $34.36 and its 200-day simple moving average is $31.64. The firm has a market capitalization of $60.61 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 2.43 and a beta of 1.25. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week high of $37.25. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the prior year, the company posted $0.49 earnings per share. The firm's quarterly revenue was down 3.5% compared to the same quarter last year. As a group, equities research analysts forecast that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Dividend Announcement

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 paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, August 29th. CSX's dividend payout ratio (DPR) is currently 32.10%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CSX shares. Benchmark boosted their price target on shares of CSX from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $36.00 target price (up from $33.00) on shares of CSX in a report on Tuesday, July 8th. Robert W. Baird boosted their target price on CSX from $38.00 to $44.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. BMO Capital Markets downgraded CSX from an "outperform" rating to a "market perform" rating and set a $38.00 price target on the stock. in a report on Monday, August 18th. Finally, TD Cowen raised CSX from a "hold" rating to a "buy" rating and increased their price target for the company from $32.00 to $45.00 in a research report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, CSX currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

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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