AE Wealth Management LLC increased its position in CSX Co. (NASDAQ:CSX – Free Report) by 43.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 96,766 shares of the transportation company’s stock after purchasing an additional 29,294 shares during the period. AE Wealth Management LLC’s holdings in CSX were worth $2,897,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bornite Capital Management LP acquired a new stake in shares of CSX during the 1st quarter valued at $14,980,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in CSX by 6.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,158,544 shares of the transportation company’s stock worth $230,637,000 after acquiring an additional 347,514 shares during the period. Blair William & Co. IL raised its holdings in CSX by 12.7% in the 1st quarter. Blair William & Co. IL now owns 122,334 shares of the transportation company’s stock worth $4,581,000 after acquiring an additional 13,829 shares during the period. Sei Investments Co. raised its holdings in CSX by 4.5% in the 1st quarter. Sei Investments Co. now owns 195,872 shares of the transportation company’s stock worth $7,361,000 after acquiring an additional 8,488 shares during the period. Finally, Cetera Investment Advisers raised its holdings in CSX by 16.8% in the 1st quarter. Cetera Investment Advisers now owns 71,521 shares of the transportation company’s stock worth $2,678,000 after acquiring an additional 10,276 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on the stock. Stephens boosted their price objective on shares of CSX from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Friday, April 21st. Susquehanna upped their price objective on shares of CSX from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Friday, April 21st. Raymond James upped their price objective on shares of CSX from $34.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, April 21st. JPMorgan Chase & Co. increased their price target on shares of CSX from $33.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, April 21st. Finally, Stifel Nicolaus increased their price target 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. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.92.
CSX Trading Up 0.7 %
CSX (NASDAQ:CSX – Free Report) last issued its quarterly earnings results on Thursday, April 20th. The transportation company reported $0.48 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same period in the previous year, the business earned $0.39 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. As a group, research analysts forecast that CSX Co. will post 1.95 EPS for the current fiscal year.
CSX Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st were given a dividend of $0.11 per share. 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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