MBB Public Markets I LLC Purchases 129,828 Shares of CSX Co. (NASDAQ:CSX)

MBB Public Markets I LLC lifted its position in CSX Co. (NASDAQ:CSX) by 11.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,218,194 shares of the transportation company’s stock after buying an additional 129,828 shares during the period. CSX comprises about 0.8% of MBB Public Markets I LLC’s investment portfolio, making the stock its 22nd biggest position. MBB Public Markets I LLC’s holdings in CSX were worth $40,749,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Banque Cantonale Vaudoise grew its stake in CSX by 149.1% in the 2nd quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock worth $575,000 after buying an additional 10,301 shares in the last quarter. Ascent Group LLC lifted its holdings in shares of CSX by 559.7% during the 1st quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock worth $2,179,000 after acquiring an additional 49,869 shares during the last quarter. PFG Advisors grew its position in CSX by 2.1% in the first quarter. PFG Advisors now owns 18,880 shares of the transportation company’s stock worth $700,000 after acquiring an additional 387 shares in the last quarter. Partners Group Holding AG increased its stake in CSX by 26.8% in the fourth quarter. Partners Group Holding AG now owns 704,544 shares of the transportation company’s stock valued at $24,427,000 after acquiring an additional 149,105 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in CSX by 718.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 287,062 shares of the transportation company’s stock valued at $9,952,000 after purchasing an additional 252,006 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CSX shares. Susquehanna upped their price objective on CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Evercore ISI raised shares of CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Stephens reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Finally, Benchmark reaffirmed a “buy” rating and set a $40.00 target price on shares of CSX in a 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.93.

CSX Stock Performance

CSX stock opened at $33.90 on Friday. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The stock’s 50 day simple moving average is $33.95 and its two-hundred day simple moving average is $34.28. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. The stock has a market cap of $66.27 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 1.91 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 the consensus estimate of $0.48 by $0.01. The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 earnings per share. As a group, analysts expect that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently declared 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. The ex-dividend date was Friday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. CSX’s 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.