Brown Brothers Harriman & Co. Buys 7,158 Shares of CSX Co. (NASDAQ:CSX)

Brown Brothers Harriman & Co. increased its stake in shares of CSX Co. (NASDAQ:CSX) by 38.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,998 shares of the transportation company’s stock after buying an additional 7,158 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in CSX were worth $870,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Gilbert & Cook Inc. lifted its position in shares of 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 during the last quarter. 9258 Wealth Management LLC lifted its position in shares of CSX by 8.0% during the 4th quarter. 9258 Wealth Management LLC now owns 12,184 shares of the transportation company’s stock valued at $422,000 after buying an additional 900 shares during the last quarter. Gryphon Financial Partners LLC lifted its position in shares of CSX by 7.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 20,416 shares of the transportation company’s stock valued at $693,000 after buying an additional 1,422 shares during the last quarter. Brown Advisory Inc. lifted its position in shares of CSX by 5.2% during the 4th quarter. Brown Advisory Inc. now owns 372,586 shares of the transportation company’s stock valued at $12,918,000 after buying an additional 18,319 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its position in shares of CSX by 5.4% during the 4th quarter. Coldstream Capital Management Inc. now owns 40,101 shares of the transportation company’s stock valued at $1,390,000 after buying an additional 2,066 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

CSX has been the topic of a number of recent research reports. Stephens reissued an “overweight” rating and set a $42.00 price objective on shares of CSX in a report on Tuesday, August 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $36.00 price objective on shares of CSX in a report on Tuesday, August 6th. Evercore ISI upgraded CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Monday, July 8th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $40.00 target price on shares of CSX in a research note on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.80.

CSX Price Performance

CSX opened at $34.07 on Wednesday. The stock’s 50 day simple moving average is $33.95 and its 200 day simple moving average is $34.42. 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 Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The firm has a market cap of $66.60 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 1.77 and a beta of 1.19.

CSX (NASDAQ:CSX) last released its quarterly earnings data 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. CSX had a return on equity of 29.11% and a net margin of 24.52%. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter last year, the business posted $0.49 EPS. The business’s revenue was up .0% on a year-over-year basis. As a group, analysts predict that CSX Co. will post 1.93 earnings per share for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Friday, August 30th. CSX’s payout ratio is presently 26.37%.

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.