Summit Trail Advisors LLC Increases Stake in CSX Co. (NASDAQ:CSX)

Summit Trail Advisors LLC grew its stake in shares of CSX Co. (NASDAQ:CSX) by 85.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,332 shares of the transportation company’s stock after buying an additional 40,268 shares during the period. Summit Trail Advisors LLC’s holdings in CSX were worth $2,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CSX. Gilbert & Cook Inc. grew its holdings in CSX by 4.4% during the 4th quarter. Gilbert & Cook Inc. now owns 19,037 shares of the transportation company’s stock valued at $660,000 after buying an additional 798 shares in the last quarter. 9258 Wealth Management LLC lifted its stake in shares of CSX by 8.0% in the 4th quarter. 9258 Wealth Management LLC now owns 12,184 shares of the transportation company’s stock valued at $422,000 after purchasing an additional 900 shares during the last quarter. Gryphon Financial Partners LLC boosted its holdings in shares of CSX by 7.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 20,416 shares of the transportation company’s stock worth $693,000 after purchasing an additional 1,422 shares during the period. Clearbridge Investments LLC raised its holdings in CSX by 4.1% during the 4th quarter. Clearbridge Investments LLC now owns 64,856 shares of the transportation company’s stock valued at $2,249,000 after buying an additional 2,579 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in CSX by 18.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 634,675 shares of the transportation company’s stock worth $22,004,000 after buying an additional 98,137 shares during the period. Institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Stephens reissued an “overweight” rating and issued a $42.00 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 report on Tuesday, August 6th. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Monday, July 8th. Finally, Benchmark reaffirmed a “buy” rating and issued a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Seven 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 company’s stock. According to data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $38.80.

CSX Price Performance

NASDAQ CSX opened at $34.93 on Friday. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The firm’s fifty day simple moving average is $34.02 and its two-hundred day simple moving average is $34.39. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $68.29 billion, a P/E ratio of 19.19, a P/E/G ratio of 1.77 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its quarterly earnings results 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. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.70 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.49 earnings per share. Analysts forecast that CSX Co. will post 1.93 EPS for the current fiscal year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders 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 dividend yield of 1.37%. The ex-dividend date of this dividend was Friday, August 30th. CSX’s dividend payout ratio (DPR) is presently 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.