CSX Co. (NASDAQ:CSX – Get Rating) declared a quarterly dividend on Tuesday, May 10th, RTT News reports. Shareholders of record on Tuesday, May 31st will be given a dividend of 0.10 per share by the transportation company on Wednesday, June 15th. This represents a $0.40 annualized dividend and a yield of 1.22%.
CSX has increased its dividend by an average of 8.4% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. CSX has a payout ratio of 20.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect CSX to earn $1.95 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 20.5%.
CSX traded down $0.84 during trading on Tuesday, hitting $32.78. 24,683,939 shares of the company traded hands, compared to its average volume of 15,836,312. CSX has a one year low of $29.49 and a one year high of $38.63. The stock’s fifty day moving average is $35.42 and its 200 day moving average is $35.51. The company has a quick ratio of 1.32, a current ratio of 1.46 and a debt-to-equity ratio of 1.21. The firm has a market cap of $71.27 billion, a P/E ratio of 18.81, a price-to-earnings-growth ratio of 1.88 and a beta of 1.21.
Hedge funds have recently modified their holdings of the business. Sei Investments Co. grew its position in CSX by 23.7% during the fourth quarter. Sei Investments Co. now owns 187,384 shares of the transportation company’s stock valued at $7,069,000 after acquiring an additional 35,934 shares during the last quarter. D. E. Shaw & Co. Inc. grew its holdings in shares of CSX by 26.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 144,671 shares of the transportation company’s stock valued at $5,440,000 after purchasing an additional 30,342 shares during the last quarter. Toroso Investments LLC grew its holdings in shares of CSX by 158.9% during the 4th quarter. Toroso Investments LLC now owns 110,814 shares of the transportation company’s stock valued at $4,167,000 after purchasing an additional 68,011 shares during the last quarter. NewEdge Advisors LLC lifted its stake in CSX by 11.2% in the fourth quarter. NewEdge Advisors LLC now owns 53,225 shares of the transportation company’s stock worth $2,001,000 after purchasing an additional 5,340 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its position in CSX by 6.8% during the fourth quarter. EP Wealth Advisors LLC now owns 35,194 shares of the transportation company’s stock valued at $1,323,000 after buying an additional 2,244 shares during the period. 74.81% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on CSX shares. Susquehanna increased their price target on CSX from $44.00 to $45.00 and gave the stock a “positive” rating in a research note on Thursday, April 21st. Argus lifted their target price on shares of CSX from $39.00 to $41.00 in a research note on Friday, April 22nd. Wells Fargo & Company dropped their price target on shares of CSX from $41.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Friday, January 21st. StockNews.com lowered shares of CSX from a “buy” rating to a “hold” rating in a research note on Friday, April 29th. Finally, Royal Bank of Canada upgraded CSX from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $37.00 to $39.00 in a research report on Thursday, March 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $38.91.
CSX Company Profile (Get Rating)
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, automotive, minerals, 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.
- Get a free copy of the StockNews.com research report on CSX (CSX)
- If PetMeds Is A Good Buy There Will Be A Better Signal
- Insiders Buy Occidental Petroleum Ahead Of Q1 Earnings
- High-Yield Deep-Value LCI Industries Exceeds All Expectations
- Shopify (NYSE: SHOP) Approaches Key Support Level
- The Low In Lordstown Motors May Not Be The Last
Receive News & Ratings for CSX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX and related companies with MarketBeat.com's FREE daily email newsletter.