Cambridge Investment Research Advisors Inc. Purchases 3,188 Shares of CSX Co. (NASDAQ:CSX)

Cambridge Investment Research Advisors Inc. grew its position in shares of CSX Co. (NASDAQ:CSX) by 0.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 651,289 shares of the transportation company’s stock after buying an additional 3,188 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in CSX were worth $21,786,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jennison Associates LLC grew its holdings in shares of CSX by 13.0% during the 4th quarter. Jennison Associates LLC now owns 114,675 shares of the transportation company’s stock worth $3,976,000 after purchasing an additional 13,159 shares in the last quarter. Atria Wealth Solutions Inc. grew its stake in CSX by 1.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 87,117 shares of the transportation company’s stock worth $3,020,000 after buying an additional 1,341 shares in the last quarter. Citizens Financial Group Inc. RI raised its position in shares of CSX by 6.6% in the 4th quarter. Citizens Financial Group Inc. RI now owns 32,318 shares of the transportation company’s stock valued at $1,120,000 after buying an additional 1,998 shares in the last quarter. Valmark Advisers Inc. lifted its holdings in shares of CSX by 1.2% during the 4th quarter. Valmark Advisers Inc. now owns 33,654 shares of the transportation company’s stock worth $1,167,000 after acquiring an additional 386 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of CSX by 2.8% during the 4th quarter. Russell Investments Group Ltd. now owns 1,511,225 shares of the transportation company’s stock worth $52,403,000 after acquiring an additional 41,048 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Down 0.3 %

CSX stock traded down $0.09 during mid-day trading on Tuesday, reaching $33.58. The stock had a trading volume of 7,436,224 shares, compared to its average volume of 11,677,493. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The stock’s 50-day simple moving average is $33.75 and its 200-day simple moving average is $34.81. The firm has a market capitalization of $65.65 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 1.89 and a beta of 1.20.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the previous year, the business posted $0.49 EPS. CSX’s quarterly revenue was up .0% on a year-over-year basis. On average, sell-side analysts forecast that CSX Co. will post 1.94 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a $0.12 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.43%. CSX’s payout ratio is 26.37%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CSX. Sanford C. Bernstein lifted their price target on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of CSX in a research report on Wednesday, August 7th. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research note on Monday, July 8th. Evercore ISI raised CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Finally, Stephens reiterated an “overweight” rating and set a $42.00 target price on shares of CSX in a research report on Tuesday, August 6th. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.80.

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.