First Business Financial Services Inc. Buys 4,736 Shares of CSX Co. (NASDAQ:CSX)

First Business Financial Services Inc. increased its position in CSX Co. (NASDAQ:CSX) by 9.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,469 shares of the transportation company’s stock after acquiring an additional 4,736 shares during the quarter. First Business Financial Services Inc.’s holdings in CSX were worth $1,855,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of CSX during the first quarter worth $29,000. MFA Wealth Advisors LLC purchased a new position in CSX in the second quarter valued at $27,000. Valued Wealth Advisors LLC raised its position in CSX by 172.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 594 shares during the last quarter. Burkett Financial Services LLC purchased a new position in CSX in the fourth quarter valued at about $34,000. Finally, Tortoise Investment Management LLC purchased a new position in shares of CSX in the 4th quarter worth $37,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Trading Down 2.4 %

CSX stock traded down $0.84 during mid-day trading on Thursday, hitting $34.02. 2,369,123 shares of the company were exchanged, compared to its average volume of 11,567,406. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The business has a fifty day simple moving average of $33.90 and a 200-day simple moving average of $34.69. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $66.51 billion, a P/E ratio of 19.15, a PEG ratio of 1.82 and a beta of 1.20.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 EPS. On average, equities research analysts predict that CSX Co. will post 1.94 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Friday, August 30th. CSX’s dividend payout ratio (DPR) is currently 26.37%.

Analyst Upgrades and Downgrades

CSX has been the subject of a number of research reports. Stephens reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of CSX in a report on Tuesday, August 6th. Wells Fargo & Company assumed coverage on CSX in a research note on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target for the company. JPMorgan Chase & Co. upped their price objective on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Evercore ISI raised shares of CSX to a “strong-buy” rating in a report on Tuesday, August 6th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $40.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Seven research 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 company. According to MarketBeat, CSX 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.