Blue Trust Inc. Boosts Position in CSX Co. (NASDAQ:CSX)

Blue Trust Inc. raised its stake in CSX Co. (NASDAQ:CSX) by 5.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,236 shares of the transportation company’s stock after buying an additional 2,421 shares during the period. Blue Trust Inc.’s holdings in CSX were worth $1,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in CSX. Financial Synergies Wealth Advisors Inc. bought a new position in CSX during the 1st quarter worth about $29,000. Burkett Financial Services LLC bought a new position in shares of CSX during the fourth quarter valued at approximately $34,000. Tortoise Investment Management LLC purchased a new position in CSX during the fourth quarter valued at approximately $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 during the fourth quarter worth $39,000. 73.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CSX shares. JPMorgan Chase & Co. lifted their price target on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Monday, July 8th. Benchmark restated a “buy” rating and issued a $40.00 price target on shares of CSX in a report on Wednesday, August 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $36.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Finally, Susquehanna raised their target price on shares of CSX from $40.00 to $41.00 and gave the company a “positive” rating in a research note on Wednesday, August 7th. Seven equities research 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.80.

CSX Stock Performance

Shares of NASDAQ CSX traded down $0.21 during mid-day trading on Friday, hitting $33.42. The stock had a trading volume of 9,870,518 shares, compared to its average volume of 11,812,768. The firm has a market cap of $65.33 billion, a PE ratio of 18.36, a PEG ratio of 1.89 and a beta of 1.20. 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 company has a 50 day moving average of $33.63 and a two-hundred day moving average of $34.96. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period in the prior year, the company earned $0.49 earnings per share. The company’s revenue was up .0% on a year-over-year basis. Research analysts predict that CSX Co. will post 1.94 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders 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 payout ratio is 26.37%.

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.