Assetmark Inc. lifted its stake in shares of CSX Co. (NASDAQ:CSX – Free Report) by 23.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 118,599 shares of the transportation company’s stock after purchasing an additional 22,224 shares during the period. Assetmark Inc.’s holdings in CSX were worth $3,551,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Thompson Investment Management Inc. acquired a new position in CSX in the 1st quarter valued at about $25,000. Kalos Management Inc. purchased a new stake in shares of CSX during the 1st quarter valued at approximately $25,000. WFA of San Diego LLC acquired a new position in CSX in the fourth quarter valued at approximately $26,000. TimeScale Financial Inc. grew its position in CSX by 1,391.8% in the first quarter. TimeScale Financial Inc. now owns 910 shares of the transportation company’s stock worth $27,000 after acquiring an additional 849 shares during the period. Finally, Fortis Capital Advisors LLC acquired a new stake in CSX during the fourth quarter worth $27,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms recently weighed in on CSX. Evercore ISI increased their price objective on shares of CSX from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, April 21st. Benchmark reaffirmed a “buy” rating and issued a $37.00 price objective on shares of CSX in a research note on Friday, July 21st. UBS Group raised CSX from a “neutral” rating to a “buy” rating and increased their target price for the stock from $33.00 to $37.00 in a research note on Thursday, June 1st. JPMorgan Chase & Co. lifted their target price on CSX from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Finally, Credit Suisse Group reissued an “outperform” rating and set a $37.00 price target on shares of CSX in a research report on Friday, April 21st. Eleven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.21.
CSX Stock Up 0.8 %
Shares of NASDAQ CSX opened at $31.78 on Tuesday. The business has a 50-day moving average price of $32.99 and a 200 day moving average price of $31.51. The stock has a market cap of $63.76 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 2.72 and a beta of 1.21. The company has a quick ratio of 1.21, a current ratio of 1.42 and a debt-to-equity ratio of 1.46. CSX Co. has a 52-week low of $25.80 and a 52-week high of $34.71.
CSX (NASDAQ:CSX – Get Free Report) last posted its quarterly earnings data on Thursday, July 20th. The transportation company reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.73 billion. CSX had a return on equity of 32.82% and a net margin of 27.36%. The company’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 earnings per share. Equities research analysts forecast that CSX Co. will post 1.9 earnings per share for the current year.
CSX Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.11 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.44 annualized dividend and a dividend yield of 1.38%. CSX’s dividend payout ratio (DPR) is 22.22%.
CSX 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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