Bahl & Gaynor Inc. Buys 1,507 Shares of CSX Co. (NASDAQ:CSX)

Bahl & Gaynor Inc. boosted its stake in shares of CSX Co. (NASDAQ:CSX) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,264 shares of the transportation company’s stock after purchasing an additional 1,507 shares during the period. Bahl & Gaynor Inc.’s holdings in CSX were worth $1,414,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Western Wealth Management LLC lifted its stake in shares of CSX by 0.8% in the 2nd quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock worth $1,208,000 after purchasing an additional 295 shares during the period. TriaGen Wealth Management LLC increased its holdings in CSX by 2.7% during the second quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock valued at $385,000 after buying an additional 300 shares during the last quarter. Miracle Mile Advisors LLC raised its position in CSX by 0.3% in the first quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock worth $3,839,000 after acquiring an additional 303 shares during the period. Team Hewins LLC boosted its stake in shares of CSX by 1.7% during the 1st quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock worth $696,000 after acquiring an additional 306 shares during the last quarter. Finally, Appleton Partners Inc. MA grew its position in shares of CSX by 1.8% during the 2nd quarter. Appleton Partners Inc. MA now owns 18,748 shares of the transportation company’s stock valued at $627,000 after acquiring an additional 339 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

NASDAQ:CSX opened at $33.45 on Friday. The business’s 50-day moving average is $33.91 and its 200 day moving average is $34.55. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12. The company has a market capitalization of $65.39 billion, a P/E ratio of 18.38, a P/E/G ratio of 1.78 and a beta of 1.19. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. CSX had a return on equity of 29.11% and a net margin of 24.52%. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the prior year, the firm earned $0.49 EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities research analysts forecast that CSX Co. will post 1.94 earnings per share for the current fiscal year.

CSX Announces Dividend

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 $0.12 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%. CSX’s payout ratio is currently 26.37%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Wells Fargo & Company initiated coverage on CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 target price on the stock. Bank of America cut CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research report on Monday, July 8th. BMO Capital Markets reissued an “outperform” rating and issued a $40.00 target price on shares of CSX in a report on Tuesday, August 6th. Stephens reaffirmed an “overweight” rating and set a $42.00 price target on shares of CSX in a report on Tuesday, August 6th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $36.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.80.

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.