Strategic Investment Solutions Inc. IL bought a new position in shares of CSX Co. (NASDAQ:CSX – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,379 shares of the transportation company’s stock, valued at approximately $146,000.
Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in shares of CSX by 18.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock worth $2,246,893,000 after purchasing an additional 9,914,656 shares in the last quarter. Capital International Investors lifted its stake in CSX by 14.3% in the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after buying an additional 5,041,679 shares in the last quarter. Interval Partners LP boosted its holdings in CSX by 849.0% in the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after buying an additional 4,579,344 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in CSX during the 2nd quarter worth approximately $116,430,000. Finally, M&G Plc acquired a new position in shares of CSX during the first quarter valued at approximately $126,089,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.
CSX Stock Down 0.0 %
Shares of CSX opened at $34.52 on Wednesday. The company’s 50-day moving average price is $33.94 and its 200 day moving average price is $34.17. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The firm has a market cap of $67.48 billion, a P/E ratio of 18.97, a price-to-earnings-growth ratio of 1.91 and a beta of 1.19.
CSX Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.12 per share. The ex-dividend date was Friday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.39%. CSX’s dividend payout ratio is currently 26.37%.
Wall Street Analyst Weigh In
Several research analysts recently commented on CSX shares. Stephens reissued an “overweight” rating and issued a $42.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Evercore ISI upgraded shares of CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. Wells Fargo & Company initiated coverage on shares of CSX in a research note on Friday, June 7th. They set an “equal weight” rating and a $35.00 price objective for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $36.00 target price on shares of CSX in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. upped their price target on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and an average price target of $38.93.
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 also 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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