Apollon Wealth Management LLC Boosts Stake in CSX Co. (NASDAQ:CSX)

Apollon Wealth Management LLC increased its position in CSX Co. (NASDAQ:CSX) by 2.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 55,046 shares of the transportation company’s stock after buying an additional 1,445 shares during the period. Apollon Wealth Management LLC’s holdings in CSX were worth $1,841,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings 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 valued at $2,418,883,000 after purchasing an additional 443,755 shares during the last quarter. Capital International Investors lifted its holdings in shares of CSX by 14.3% in the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after acquiring an additional 5,041,679 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of CSX by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 22,378,276 shares of the transportation company’s stock valued at $775,855,000 after acquiring an additional 470,640 shares during the last quarter. Norges Bank bought a new position in shares of CSX in the 4th quarter valued at about $757,276,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of CSX by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,217,832 shares of the transportation company’s stock valued at $388,922,000 after acquiring an additional 135,169 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

CSX has been the subject of a number of analyst reports. Stephens reaffirmed an “overweight” rating and issued a $42.00 price target on shares of CSX in a report on Tuesday, August 6th. Benchmark reaffirmed a “buy” rating and issued a $40.00 price target on shares of CSX in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Evercore ISI raised shares of CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. Finally, Sanford C. Bernstein increased their price objective on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $38.80.

CSX Stock Up 0.7 %

CSX stock traded up $0.22 during trading on Monday, hitting $33.64. 8,892,083 shares of the company’s stock traded hands, compared to its average volume of 11,794,397. The firm has a market capitalization of $65.76 billion, a P/E ratio of 18.36, a PEG ratio of 1.89 and a beta of 1.20. The business has a fifty day simple moving average of $33.63 and a two-hundred day simple moving average of $34.95. 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 Co. has a 1 year low of $29.03 and a 1 year high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.70 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. CSX’s revenue was up .0% compared to the same quarter last year. During the same period last year, the company posted $0.49 earnings per share. Sell-side analysts anticipate that CSX Co. will post 1.94 EPS for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.43%. CSX’s dividend payout ratio (DPR) is 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.