Allworth Financial LP grew its holdings in shares of CSX Co. (NASDAQ:CSX – Free Report) by 6.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,375 shares of the transportation company’s stock after buying an additional 2,895 shares during the period. Allworth Financial LP’s holdings in CSX were worth $1,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Valmark Advisers Inc. increased its stake in shares of CSX by 1.0% in the fourth quarter. Valmark Advisers Inc. now owns 33,240 shares of the transportation company’s stock valued at $1,030,000 after purchasing an additional 322 shares during the period. Relyea Zuckerberg Hanson LLC increased its stake in shares of CSX by 2.5% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 13,740 shares of the transportation company’s stock valued at $426,000 after purchasing an additional 331 shares during the period. New England Research & Management Inc. increased its stake in shares of CSX by 0.3% in the first quarter. New England Research & Management Inc. now owns 109,894 shares of the transportation company’s stock valued at $3,290,000 after purchasing an additional 350 shares during the period. Smith Anglin Financial LLC increased its stake in shares of CSX by 5.4% in the first quarter. Smith Anglin Financial LLC now owns 6,861 shares of the transportation company’s stock valued at $205,000 after purchasing an additional 350 shares during the period. Finally, Associated Banc Corp increased its stake in shares of CSX by 0.7% during the fourth quarter. Associated Banc Corp now owns 54,607 shares of the transportation company’s stock valued at $1,692,000 after acquiring an additional 366 shares during the period. 72.36% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
CSX has been the topic of a number of research analyst reports. Raymond James raised their price objective on shares of CSX from $34.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, April 21st. Stifel Nicolaus raised their price objective on shares of CSX from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, April 21st. StockNews.com lowered shares of CSX from a “buy” rating to a “hold” rating in a research note on Wednesday. BMO Capital Markets raised their price objective on shares of CSX from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, April 21st. Finally, Credit Suisse Group restated an “outperform” rating and set a $37.00 target price on shares of CSX in a report on Friday, April 21st. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.92.
CSX Stock Up 0.7 %
CSX (NASDAQ:CSX – Free Report) last released its quarterly earnings results on Thursday, April 20th. The transportation company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.05. The business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.58 billion. CSX had a net margin of 28.35% and a return on equity of 33.01%. CSX’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 EPS. Sell-side analysts forecast that CSX Co. will post 1.95 earnings per share for the current fiscal year.
CSX Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were issued 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 1.29%. CSX’s dividend payout ratio (DPR) is presently 21.67%.
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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