Advisory Alpha LLC Buys 4,223 Shares of CSX Co. (NASDAQ:CSX)

Advisory Alpha LLC boosted its stake in shares of CSX Co. (NASDAQ:CSX) by 11.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 40,147 shares of the transportation company’s stock after purchasing an additional 4,223 shares during the period. Advisory Alpha LLC’s holdings in CSX were worth $1,343,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. IMS Capital Management boosted its position in CSX by 11.4% during the second quarter. IMS Capital Management now owns 11,201 shares of the transportation company’s stock worth $376,000 after purchasing an additional 1,150 shares during the period. Kimelman & Baird LLC bought a new position in CSX during the second quarter worth about $271,000. Wallace Advisory Group LLC boosted its position in CSX by 62.1% during the second quarter. Wallace Advisory Group LLC now owns 11,216 shares of the transportation company’s stock worth $375,000 after purchasing an additional 4,295 shares during the period. William B. Walkup & Associates Inc. bought a new position in CSX during the second quarter worth about $867,000. Finally, NewEdge Advisors LLC boosted its position in CSX by 33.5% during the second quarter. NewEdge Advisors LLC now owns 105,929 shares of the transportation company’s stock worth $3,543,000 after purchasing an additional 26,610 shares during the period. Institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CSX shares. Susquehanna increased their target price on shares of CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a research report on Wednesday, August 7th. Evercore ISI upgraded shares of CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. BMO Capital Markets restated an “outperform” rating and issued a $40.00 price objective on shares of CSX in a research report on Tuesday, August 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $36.00 price objective on shares of CSX in a research report on Tuesday, August 6th. Finally, Bank of America lowered shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Monday, July 8th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.93.

CSX Trading Down 0.0 %

Shares of CSX opened at $34.52 on Wednesday. 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 company has a market capitalization of $67.48 billion, a P/E ratio of 18.97, a P/E/G ratio of 1.91 and a beta of 1.19. The firm’s 50 day simple moving average is $33.94 and its 200 day simple moving average is $34.17.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 earnings per share. Sell-side analysts forecast 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. Investors of record on Friday, August 30th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.39%. The ex-dividend date was Friday, August 30th. CSX’s dividend payout ratio (DPR) is currently 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.