Flagship Harbor Advisors LLC raised its stake in shares of CSX Co. (NASDAQ:CSX – Get Rating) by 27.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 21,069 shares of the transportation company’s stock after purchasing an additional 4,522 shares during the period. Flagship Harbor Advisors LLC’s holdings in CSX were worth $631,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Point72 Asset Management L.P. boosted its stake in CSX by 3.9% during the 4th quarter. Point72 Asset Management L.P. now owns 4,994,715 shares of the transportation company’s stock valued at $154,736,000 after purchasing an additional 186,588 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of CSX by 3.9% in the 3rd quarter. Macquarie Group Ltd. now owns 950,618 shares of the transportation company’s stock worth $25,929,000 after buying an additional 35,388 shares during the last quarter. Wedbush Securities Inc. boosted its stake in shares of CSX by 8.7% in the 4th quarter. Wedbush Securities Inc. now owns 61,169 shares of the transportation company’s stock worth $1,895,000 after buying an additional 4,901 shares during the last quarter. Aspiriant LLC purchased a new position in shares of CSX in the 4th quarter worth approximately $220,000. Finally, Ronald Blue Trust Inc. boosted its stake in shares of CSX by 8.0% in the 4th quarter. Ronald Blue Trust Inc. now owns 26,232 shares of the transportation company’s stock worth $699,000 after buying an additional 1,943 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on the company. Royal Bank of Canada boosted their target price on CSX from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, April 21st. Susquehanna upped their price objective on CSX from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, April 21st. Bank of America upped their price objective on CSX from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, April 21st. Citigroup upgraded CSX from a “neutral” rating to a “buy” rating and upped their price objective for the company from $33.00 to $37.00 in a research note on Monday, May 22nd. Finally, Morgan Stanley upped their price objective on CSX from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, April 21st. Nine research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.92.
CSX Trading Down 1.1 %
CSX stock opened at $32.74 on Friday. The stock has a market cap of $66.56 billion, a P/E ratio of 16.13, a PEG ratio of 2.33 and a beta of 1.22. CSX Co. has a fifty-two week low of $25.80 and a fifty-two week high of $34.71. The firm’s fifty day moving average price is $31.74 and its 200-day moving average price is $31.14. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.28 and a current ratio of 1.45.
CSX (NASDAQ:CSX – Get Rating) last announced its earnings results on Thursday, April 20th. The transportation company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.05. CSX had a net margin of 28.35% and a return on equity of 33.01%. The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same period in the previous year, the business earned $0.39 earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities research analysts forecast that CSX Co. will post 1.95 earnings per share for the current fiscal year.
CSX Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were given a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $0.44 annualized dividend and a yield of 1.34%. CSX’s dividend payout ratio (DPR) is presently 21.67%.
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 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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