CSX Co. (NASDAQ:CSX) Shares Acquired by ELCO Management Co. LLC

ELCO Management Co. LLC lifted its position in CSX Co. (NASDAQ:CSX) by 80.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,715 shares of the transportation company’s stock after buying an additional 11,030 shares during the quarter. ELCO Management Co. LLC’s holdings in CSX were worth $827,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CSX. Gilbert & Cook Inc. grew its stake in shares of 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 acquiring an additional 798 shares in the last quarter. 9258 Wealth Management LLC raised its position in 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 in the last quarter. Gryphon Financial Partners LLC boosted its stake 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 valued at $693,000 after buying an additional 1,422 shares during the period. SageView Advisory Group LLC grew its position in shares of CSX by 13.2% during the fourth quarter. SageView Advisory Group LLC now owns 7,374 shares of the transportation company’s stock worth $264,000 after buying an additional 858 shares in the last quarter. Finally, Congress Wealth Management LLC DE purchased a new stake in shares of CSX during the fourth quarter worth approximately $701,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Trading Up 0.4 %

Shares of CSX stock opened at $34.14 on Wednesday. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. 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 business’s 50 day moving average is $33.98 and its two-hundred day moving average is $34.28. The company has a market capitalization of $66.74 billion, a P/E ratio of 18.76, a price-to-earnings-growth ratio of 1.91 and a beta of 1.19.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. CSX’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 EPS. Equities analysts forecast that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

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

Wall Street Analysts Forecast Growth

CSX has been the subject of several analyst reports. Bank of America cut shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Monday, July 8th. Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of CSX in a report on Wednesday, August 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $36.00 price target on shares of CSX in a report on Tuesday, August 6th. Sanford C. Bernstein increased their price objective on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $40.00 price target on shares of CSX in a report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.80.

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.