CSX Co. (NASDAQ:CSX) Shares Purchased by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC boosted its holdings in CSX Co. (NASDAQ:CSX) by 109.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,946 shares of the transportation company’s stock after purchasing an additional 13,560 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in CSX were worth $867,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in CSX by 0.7% in 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 purchasing an additional 443,755 shares in the last quarter. Capital International Investors boosted its holdings in CSX by 14.3% in 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 lifted its stake in CSX by 2.0% in the fourth quarter. Fisher Asset Management LLC now owns 22,340,864 shares of the transportation company’s stock valued at $774,558,000 after buying an additional 433,228 shares during the last quarter. Norges Bank purchased a new stake in CSX in the fourth quarter valued at approximately $757,276,000. Finally, Bank of New York Mellon Corp lifted its stake in CSX by 6.6% in the second 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 and hedge funds.

CSX Trading Up 0.2 %

Shares of CSX stock opened at $33.52 on Monday. The business’s fifty day moving average price is $33.91 and its 200 day moving average price is $34.48. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The firm has a market capitalization of $65.53 billion, a PE ratio of 18.42, a P/E/G ratio of 1.77 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01.

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, topping analysts’ consensus estimates of $0.48 by $0.01. CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the prior year, the company posted $0.49 earnings per share. CSX’s quarterly revenue was up .0% on a year-over-year basis. As a group, sell-side analysts forecast that CSX Co. will post 1.93 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Friday, August 30th. CSX’s dividend payout ratio is presently 26.37%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and issued a $40.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Evercore ISI upgraded CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Susquehanna boosted their price objective on CSX from $40.00 to $41.00 and gave the company a “positive” rating in a research note on Wednesday, August 7th. Sanford C. Bernstein boosted their price objective on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. Finally, Bank of America cut 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. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average target price of $38.80.

CSX 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.