CSX Co. (NASDAQ:CSX) Stock Position Raised by AlTi Global Inc.

AlTi Global Inc. increased its position in CSX Co. (NASDAQ:CSX) by 5.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,890 shares of the transportation company’s stock after buying an additional 342 shares during the period. AlTi Global Inc.’s holdings in CSX were worth $230,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its stake in shares of CSX by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock worth $2,418,883,000 after purchasing an additional 443,755 shares during the last quarter. Capital International Investors boosted its holdings in CSX by 14.3% in the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after purchasing an additional 5,041,679 shares in the last quarter. Fisher Asset Management LLC increased its position in CSX by 2.0% during the fourth quarter. Fisher Asset Management LLC now owns 22,340,864 shares of the transportation company’s stock worth $774,558,000 after buying an additional 433,228 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in CSX by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock valued at $573,128,000 after buying an additional 1,060,204 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of CSX by 9.3% in the second quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock worth $415,466,000 after buying an additional 1,060,617 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

CSX opened at $33.90 on Friday. The stock has a market cap of $66.27 billion, a PE ratio of 18.63, a P/E/G ratio of 1.91 and a beta of 1.19. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The stock’s 50 day simple moving average is $33.95 and its 200-day simple moving average is $34.28. 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 announced its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the prior year, the company posted $0.49 EPS. The business’s revenue was up .0% on a year-over-year basis. Sell-side analysts forecast that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders 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 yield of 1.42%. The ex-dividend date was Friday, August 30th. CSX’s payout ratio is 26.37%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CSX. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Monday, July 8th. Wells Fargo & Company started coverage on shares of CSX in a research report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price target on the stock. Susquehanna upped their price objective on shares of CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a report on Wednesday, August 7th. Stephens reiterated an “overweight” rating and issued a $42.00 target price on shares of CSX in a report on Tuesday, August 6th. Finally, Benchmark restated a “buy” rating and set a $40.00 price target on shares of CSX in a report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.93.

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.