Dynamic Advisor Solutions LLC Purchases 383 Shares of CSX Co. (NASDAQ:CSX)

Dynamic Advisor Solutions LLC lifted its position in CSX Co. (NASDAQ:CSX) by 1.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,886 shares of the transportation company’s stock after purchasing an additional 383 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in CSX were worth $1,200,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CSX. Financial Synergies Wealth Advisors Inc. bought a new position in shares of CSX during the first quarter valued at about $29,000. Burkett Financial Services LLC purchased a new stake in shares of CSX in the 4th quarter worth about $34,000. Tortoise Investment Management LLC purchased a new position in shares of CSX during the fourth quarter valued at about $35,000. Valued Wealth Advisors LLC raised its stake in CSX by 172.7% in the first quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock worth $35,000 after buying an additional 594 shares in the last quarter. Finally, Voisard Asset Management Group Inc. purchased a new stake in CSX in the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

CSX stock traded down $0.22 during mid-day trading on Tuesday, reaching $33.28. 1,317,897 shares of the company were exchanged, compared to its average volume of 11,731,290. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The firm’s 50-day simple moving average is $33.59 and its two-hundred day simple moving average is $35.01. The firm has a market cap of $65.06 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 1.89 and a beta of 1.20.

CSX (NASDAQ:CSX) last announced its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 earnings per share. Equities analysts predict that CSX Co. will post 1.94 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Friday, August 30th. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CSX. BMO Capital Markets reiterated an “outperform” rating and set a $40.00 target price on shares of CSX in a research note on Tuesday, August 6th. Jefferies Financial Group reduced their price objective on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. Benchmark reissued a “buy” rating and set a $40.00 price target on shares of CSX in a report on Wednesday, August 7th. Stephens reissued an “overweight” rating and set a $42.00 target price on shares of CSX in a research note on Tuesday, August 6th. Finally, Bank of America cut shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research note on Monday, July 8th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.80.

About CSX

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.