Empower Advisory Group LLC Takes $265,000 Position in CSX Co. (NASDAQ:CSX)

Empower Advisory Group LLC purchased a new position in shares of CSX Co. (NASDAQ:CSXFree Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,870 shares of the transportation company’s stock, valued at approximately $265,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Thompson Investment Management Inc. bought a new stake in CSX during the 1st quarter valued at about $25,000. Kalos Management Inc. bought a new stake in CSX during the 1st quarter valued at $25,000. Fortis Capital Advisors LLC purchased a new stake in shares of CSX in the 4th quarter worth $27,000. TimeScale Financial Inc. lifted its stake 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, Graham Capital Wealth Management LLC bought a new position in CSX during the 1st quarter worth about $311,675,000. 72.76% of the stock is currently owned by institutional investors.

CSX Price Performance

Shares of NASDAQ CSX opened at $30.85 on Monday. CSX Co. has a 52 week low of $25.80 and a 52 week high of $34.38. The business’s 50 day moving average price is $31.65 and its 200 day moving average price is $31.37. The company has a quick ratio of 1.21, a current ratio of 1.42 and a debt-to-equity ratio of 1.46. The firm has a market cap of $61.90 billion, a P/E ratio of 15.58, a P/E/G ratio of 2.63 and a beta of 1.22.

CSX (NASDAQ:CSXGet Free Report) last released its quarterly earnings data on Thursday, July 20th. The transportation company reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. CSX had a net margin of 27.36% and a return on equity of 32.82%. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same period in the prior year, the firm earned $0.50 EPS. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, sell-side analysts expect that CSX Co. will post 1.9 earnings per share for the current year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.43%. CSX’s payout ratio is currently 22.22%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CSX. Royal Bank of Canada downgraded shares of CSX from an “outperform” rating to a “sector perform” rating and set a $35.00 price objective on the stock. in a research note on Monday, July 31st. Argus boosted their price target on CSX from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. Susquehanna dropped their price objective on CSX from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, July 21st. UBS Group upgraded shares of CSX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $33.00 to $37.00 in a report on Thursday, June 1st. Finally, Stifel Nicolaus raised their price target on shares of CSX from $37.00 to $38.00 in a report on Monday, July 17th. Nine equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.43.

View Our Latest Analysis on CSX

CSX Company Profile

(Free Report)

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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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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