Belpointe Asset Management LLC Purchases 2,438 Shares of CSX Corporation $CSX

Belpointe Asset Management LLC lifted its position in CSX Corporation (NASDAQ:CSX) by 32.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,875 shares of the transportation company’s stock after buying an additional 2,438 shares during the period. Belpointe Asset Management LLC’s holdings in CSX were worth $291,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CSX. Nuveen LLC purchased a new position in shares of CSX during the first quarter valued at approximately $182,550,000. Bank of New York Mellon Corp raised its holdings in shares of CSX by 21.6% during the first quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company’s stock valued at $835,336,000 after purchasing an additional 5,033,743 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of CSX by 1,283.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,190,452 shares of the transportation company’s stock valued at $123,786,000 after purchasing an additional 3,887,644 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of CSX during the fourth quarter valued at approximately $117,133,000. Finally, Amundi raised its holdings in shares of CSX by 34.5% during the first quarter. Amundi now owns 13,017,397 shares of the transportation company’s stock valued at $364,357,000 after purchasing an additional 3,341,136 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

CSX stock opened at $32.50 on Tuesday. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.25. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. The company has a fifty day simple moving average of $34.25 and a two-hundred day simple moving average of $31.64. The firm has a market capitalization of $60.59 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 2.42 and a beta of 1.25.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The business had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. Analysts anticipate that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 1.6%. CSX’s dividend payout ratio (DPR) is presently 32.10%.

Analyst Ratings Changes

A number of analysts have commented on CSX shares. Wall Street Zen cut shares of CSX from a “hold” rating to a “sell” rating in a report on Friday, August 22nd. Susquehanna reaffirmed a “neutral” rating and set a $35.00 target price on shares of CSX in a report on Tuesday, June 24th. Baird R W raised shares of CSX to a “strong-buy” rating in a report on Tuesday, July 1st. Citigroup upped their target price on shares of CSX from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of CSX from $34.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

CSX Company 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.