Ashton Thomas Private Wealth LLC Invests $120,000 in CSX Co. (NASDAQ:CSX)

Ashton Thomas Private Wealth LLC purchased a new position in CSX Co. (NASDAQ:CSX) in the second quarter, Holdings Channel reports. The fund purchased 3,578 shares of the transportation company’s stock, valued at approximately $120,000.

A number of other hedge funds have also made changes to their positions in CSX. Gilbert & Cook Inc. increased its holdings in CSX by 4.4% in the fourth quarter. Gilbert & Cook Inc. now owns 19,037 shares of the transportation company’s stock worth $660,000 after buying an additional 798 shares during the last quarter. 9258 Wealth Management LLC increased its holdings in CSX by 8.0% in the fourth quarter. 9258 Wealth Management LLC now owns 12,184 shares of the transportation company’s stock worth $422,000 after buying an additional 900 shares during the last quarter. Gryphon Financial Partners LLC increased its holdings in CSX by 7.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 20,416 shares of the transportation company’s stock worth $693,000 after buying an additional 1,422 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in CSX by 4.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,259,163 shares of the transportation company’s stock worth $78,325,000 after buying an additional 95,027 shares during the last quarter. Finally, Wade G W & Inc. acquired a new position in CSX in the fourth quarter worth approximately $203,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Trading Up 0.2 %

Shares of CSX stock opened at $33.52 on Friday. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The firm’s fifty day simple moving average is $33.91 and its 200 day simple moving average is $34.52. The firm has a market capitalization of $65.53 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 1.77 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 posted 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. CSX had a net margin of 24.52% and a return on equity of 29.11%. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the previous year, the company earned $0.49 earnings per share. The business’s revenue was up .0% compared to the same quarter last year. As a group, sell-side analysts predict that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

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

Analyst Ratings Changes

CSX has been the topic of a number of research reports. Susquehanna increased 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. BMO Capital Markets reissued an “outperform” rating and issued a $40.00 price target on shares of CSX in a research report on Tuesday, August 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $36.00 price target on shares of CSX in a research report on Tuesday, August 6th. Evercore ISI raised shares of CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. Finally, Sanford C. Bernstein lifted their price target on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Seven investment 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 stock. According to MarketBeat, CSX has a consensus rating of “Moderate Buy” and an average 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.