Thurston Springer Miller Herd & Titak Inc. Invests $75,000 in CSX Co. (NASDAQ:CSX)

Thurston Springer Miller Herd & Titak Inc. acquired a new stake in CSX Co. (NASDAQ:CSX) in the second quarter, Holdings Channel reports. The institutional investor acquired 2,244 shares of the transportation company’s stock, valued at approximately $75,000.

Several other hedge funds have also recently added to or reduced their stakes in CSX. DNB Asset Management AS increased its stake in shares of CSX by 29.8% in the 2nd quarter. DNB Asset Management AS now owns 847,390 shares of the transportation company’s stock valued at $28,345,000 after acquiring an additional 194,442 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in CSX by 4.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 23,793 shares of the transportation company’s stock valued at $796,000 after purchasing an additional 973 shares in the last quarter. GAMMA Investing LLC raised its holdings in CSX by 18.7% in the second quarter. GAMMA Investing LLC now owns 18,576 shares of the transportation company’s stock worth $621,000 after purchasing an additional 2,926 shares during the period. Transcend Capital Advisors LLC boosted its position in shares of CSX by 4.9% during the second quarter. Transcend Capital Advisors LLC now owns 32,689 shares of the transportation company’s stock worth $1,093,000 after purchasing an additional 1,527 shares in the last quarter. Finally, Appleton Partners Inc. MA grew its holdings in shares of CSX by 1.8% in the 2nd quarter. Appleton Partners Inc. MA now owns 18,748 shares of the transportation company’s stock valued at $627,000 after buying an additional 339 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Performance

Shares of CSX traded up $0.54 during midday trading on Wednesday, reaching $34.40. 790,951 shares of the stock were exchanged, compared to its average volume of 11,807,189. The stock’s 50 day simple moving average is $33.55 and its 200 day simple moving average is $35.03. The company has a market cap of $67.25 billion, a P/E ratio of 18.60, a PEG ratio of 1.89 and a beta of 1.20. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last announced its earnings results on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the firm earned $0.49 earnings per share. On average, sell-side analysts expect that CSX Co. will post 1.94 earnings per share for the current year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Friday, August 30th. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Analysts Set New Price Targets

CSX has been the topic of several recent analyst reports. 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 report on Monday, July 8th. Wells Fargo & Company began coverage on CSX in a research report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday. Royal Bank of Canada reissued a “sector perform” rating and set a $36.00 price objective on shares of CSX in a research report on Tuesday. Finally, Stephens reiterated an “overweight” rating and issued a $42.00 price objective on shares of CSX in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a 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.