7,072 Shares in CSX Co. (NASDAQ:CSX) Purchased by Romano Brothers AND Company

Posted by on Mar 26th, 2023

Romano Brothers AND Company acquired a new position in shares of CSX Co. (NASDAQ:CSX – Get Rating) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,072 shares of the transportation company’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Webster Bank N. A. purchased a new stake in CSX in the 3rd quarter valued at about $40,000. Godsey & Gibb Inc. purchased a new stake in CSX in the 3rd quarter valued at about $43,000. Orion Capital Management LLC grew its holdings in CSX by 504.0% in the 3rd quarter. Orion Capital Management LLC now owns 1,830 shares of the transportation company’s stock valued at $49,000 after buying an additional 1,527 shares during the period. Ellevest Inc. grew its holdings in CSX by 94.2% in the 3rd quarter. Ellevest Inc. now owns 1,884 shares of the transportation company’s stock valued at $50,000 after buying an additional 914 shares during the period. Finally, Guardian Wealth Advisors LLC acquired a new position in shares of CSX in the 3rd quarter valued at about $60,000. Hedge funds and other institutional investors own 72.91% of the company’s stock.

CSX Stock Performance

Shares of CSX opened at $28.25 on Friday. The business’s 50 day moving average is $30.71 and its two-hundred day moving average is $30.38. CSX Co. has a 52-week low of $25.80 and a 52-week high of $38.17. The firm has a market cap of $58.27 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 2.20 and a beta of 1.22. The company has a quick ratio of 1.42, a current ratio of 1.56 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX – Get Rating) last announced its earnings results on Wednesday, January 25th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. CSX had a return on equity of 31.48% and a net margin of 28.05%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the company posted $0.42 EPS. CSX’s quarterly revenue was up 8.7% on a year-over-year basis. Analysts forecast that CSX Co. will post 1.86 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.56%. This is a positive change from CSX’s previous quarterly dividend of $0.10. The ex-dividend date was Monday, February 27th. CSX’s dividend payout ratio is presently 22.68%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CSX shares. Cowen lifted their price objective on CSX from $33.00 to $35.00 and gave the company a “market perform” rating in a research note on Thursday, January 26th. Susquehanna lifted their price objective on CSX from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, January 26th. Deutsche Bank Aktiengesellschaft lifted their price objective on CSX from $36.00 to $39.00 in a research note on Monday, November 28th. StockNews.com raised CSX from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Barclays lifted their price objective on CSX from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, November 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $34.39.

CSX Profile

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CSX Corp. engages in the provision of rail-based freight transportation services. Its services include rail service, the transport of intermodal containers and trailers, rail-to-truck transfers and bulk commodity operations. The company was founded in 1827 and is headquartered in Jacksonville, FL.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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