Valmark Advisers Inc. Acquires 342 Shares of CSX Co. (NASDAQ:CSX)

Valmark Advisers Inc. raised its stake in shares of CSX Co. (NASDAQ:CSX) by 1.1% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 32,390 shares of the transportation company’s stock after purchasing an additional 342 shares during the period. Valmark Advisers Inc.’s holdings in CSX were worth $1,083,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSX. Price T Rowe Associates Inc. MD boosted its position in shares of CSX by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock valued at $2,418,883,000 after buying an additional 443,755 shares during the last quarter. Capital International Investors lifted its position in shares of CSX by 14.3% during the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after purchasing an additional 5,041,679 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in CSX by 2.0% during the fourth quarter. Fisher Asset Management LLC now owns 22,340,864 shares of the transportation company’s stock worth $774,558,000 after purchasing an additional 433,228 shares during the last quarter. Norges Bank bought a new stake in CSX in the 4th quarter worth about $757,276,000. Finally, Bank of New York Mellon Corp increased its stake in CSX by 6.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock valued at $573,128,000 after buying an additional 1,060,204 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Susquehanna boosted their target price on CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a research note on Wednesday, August 7th. Bank of America downgraded CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Monday, July 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $36.00 target price on shares of CSX in a research note on Tuesday, August 6th. Stephens restated an “overweight” rating and set a $42.00 price target on shares of CSX in a research report on Tuesday, August 6th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $40.00 target price on shares of CSX in a research note on Tuesday, August 6th. 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $38.80.

CSX Stock Performance

NASDAQ:CSX opened at $34.27 on Monday. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The stock has a market cap of $67.00 billion, a P/E ratio of 18.83, a PEG ratio of 1.82 and a beta of 1.20. The business’s 50-day moving average price is $33.80 and its two-hundred day moving average price is $34.73.

CSX (NASDAQ:CSX) last announced its earnings results 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. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. CSX’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the firm posted $0.49 earnings per share. As a group, equities analysts predict that CSX Co. will post 1.94 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a $0.12 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a yield of 1.40%. CSX’s dividend payout ratio is presently 26.37%.

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.