Perpetual Ltd acquired a new stake in CSX Co. (NASDAQ:CSX – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,165 shares of the transportation company’s stock, valued at approximately $364,000.
A number of other hedge funds have also recently modified their holdings of the stock. Valmark Advisers Inc. boosted its stake in shares of CSX by 1.0% during the 4th quarter. Valmark Advisers Inc. now owns 33,240 shares of the transportation company’s stock worth $1,030,000 after acquiring an additional 322 shares in the last quarter. Firethorn Wealth Partners LLC increased its position in shares of CSX by 0.7% during the first quarter. Firethorn Wealth Partners LLC now owns 49,495 shares of the transportation company’s stock worth $1,549,000 after purchasing an additional 325 shares in the last quarter. Adirondack Trust Co. lifted its holdings in CSX by 1.2% in the 1st quarter. Adirondack Trust Co. now owns 28,390 shares of the transportation company’s stock valued at $850,000 after purchasing an additional 346 shares in the last quarter. New England Research & Management Inc. grew its stake in CSX by 0.3% during the 1st quarter. New England Research & Management Inc. now owns 109,894 shares of the transportation company’s stock valued at $3,290,000 after acquiring an additional 350 shares in the last quarter. Finally, Smith Anglin Financial LLC raised its holdings in CSX by 5.4% in the 1st quarter. Smith Anglin Financial LLC now owns 6,861 shares of the transportation company’s stock valued at $205,000 after acquiring an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.
CSX Price Performance
CSX stock opened at $31.31 on Wednesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.42 and a quick ratio of 1.21. The stock has a market capitalization of $62.82 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 2.74 and a beta of 1.21. The business has a 50 day simple moving average of $33.01 and a 200-day simple moving average of $31.51. CSX Co. has a 12 month low of $25.80 and a 12 month high of $34.71.
CSX (NASDAQ:CSX – Get Free Report) last issued its quarterly earnings results on Thursday, July 20th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.73 billion. CSX had a net margin of 27.36% and a return on equity of 32.82%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.50 earnings per share. Equities analysts predict that CSX Co. will post 1.9 earnings per share for the current year.
CSX Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Wednesday, August 30th. CSX’s dividend payout ratio is presently 22.22%.
Analysts Set New Price Targets
Several analysts have issued reports on the company. Bank of America cut CSX from a “buy” rating to a “neutral” rating and dropped their target price for the company from $37.00 to $34.00 in a report on Friday, August 4th. Citigroup decreased their target price on shares of CSX from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Stephens reaffirmed an “overweight” rating and set a $39.00 price target on shares of CSX in a research report on Friday, July 21st. Royal Bank of Canada downgraded CSX from an “outperform” rating to a “sector perform” rating and set a $35.00 target price on the stock. in a research report on Monday, July 31st. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $37.00 target price on shares of CSX in a research report on Friday, April 21st. Eleven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.21.
View Our Latest Analysis on CSX
About CSX
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 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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