Oak Thistle LLC Buys 14,544 Shares of CSX Co. (NASDAQ:CSX)

Oak Thistle LLC boosted its stake in shares of CSX Co. (NASDAQ:CSX) by 176.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,764 shares of the transportation company’s stock after purchasing an additional 14,544 shares during the period. CSX comprises 0.8% of Oak Thistle LLC’s portfolio, making the stock its 11th largest holding. Oak Thistle LLC’s holdings in CSX were worth $844,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CSX. Fortitude Family Office LLC purchased a new stake in CSX during the fourth quarter valued at approximately $27,000. Life Planning Partners Inc purchased a new stake in CSX during the fourth quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in CSX during the first quarter valued at approximately $29,000. Turtle Creek Wealth Advisors LLC purchased a new stake in CSX during the fourth quarter valued at approximately $34,000. Finally, Burkett Financial Services LLC purchased a new stake in CSX during the fourth quarter valued at approximately $34,000. Institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

CSX has been the subject of a number of analyst reports. Stifel Nicolaus increased their price objective on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Susquehanna reduced their price objective on shares of CSX from $44.00 to $40.00 and set a “positive” rating for the company in a research note on Tuesday, June 25th. Royal Bank of Canada reduced their price objective on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Wells Fargo & Company assumed coverage on shares of CSX in a research note on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price objective for the company. Finally, Jefferies Financial Group cut their target price on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.59.

CSX Price Performance

CSX stock traded up $0.14 during trading on Monday, hitting $33.59. 11,090,056 shares of the company’s stock traded hands, compared to its average volume of 11,983,842. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The business has a fifty day simple moving average of $33.46 and a 200 day simple moving average of $35.14. The stock has a market capitalization of $65.67 billion, a price-to-earnings ratio of 18.46, a P/E/G ratio of 1.73 and a beta of 1.20.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. CSX’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the business earned $0.48 earnings per share. As a group, research analysts expect that CSX Co. will post 1.96 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

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.