CSX Corporation $CSX Shares Bought by Private Wealth Asset Management LLC

Private Wealth Asset Management LLC raised its holdings in CSX Corporation (NASDAQ:CSX) by 12.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,557 shares of the transportation company’s stock after purchasing an additional 1,843 shares during the period. Private Wealth Asset Management LLC’s holdings in CSX were worth $540,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of CSX in the first quarter worth approximately $30,000. Rossby Financial LCC acquired a new stake in shares of CSX in the first quarter worth approximately $28,000. Kessler Investment Group LLC acquired a new stake in shares of CSX in the first quarter worth approximately $32,000. Cornerstone Planning Group LLC boosted its stake in shares of CSX by 45.8% in the first quarter. Cornerstone Planning Group LLC now owns 1,414 shares of the transportation company’s stock worth $39,000 after acquiring an additional 444 shares during the last quarter. Finally, S Bank Fund Management Ltd acquired a new stake in shares of CSX in the first quarter worth approximately $45,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Performance

Shares of CSX stock opened at $36.13 on Wednesday. CSX Corporation has a one year low of $26.22 and a one year high of $37.25. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. The company has a market cap of $67.36 billion, a price-to-earnings ratio of 22.30, a PEG ratio of 2.78 and a beta of 1.29. The business’s 50 day moving average price is $34.30 and its 200 day moving average price is $32.29.

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

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a $0.13 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.4%. CSX’s payout ratio is currently 32.10%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CSX shares. Raymond James Financial lifted their price target on CSX from $33.00 to $37.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Jefferies Financial Group reaffirmed a “buy” rating on shares of CSX in a research note on Monday, September 29th. Sanford C. Bernstein lifted their price target on CSX from $36.00 to $37.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 30th. TD Cowen raised CSX from a “hold” rating to a “buy” rating and lifted their price target for the stock from $32.00 to $45.00 in a research note on Monday, July 21st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of CSX in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.39.

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.