Malaga Cove Capital LLC Acquires 5,563 Shares of CSX Co. (NASDAQ:CSX)

Malaga Cove Capital LLC raised its holdings in CSX Co. (NASDAQ:CSX) by 57.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,221 shares of the transportation company’s stock after purchasing an additional 5,563 shares during the quarter. Malaga Cove Capital LLC’s holdings in CSX were worth $509,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. MFA Wealth Advisors LLC bought a new position in shares of CSX in the second quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. bought a new position in shares of CSX in the first quarter worth about $29,000. Strategic Financial Concepts LLC acquired a new position in shares of CSX during the second quarter worth approximately $33,000. Burkett Financial Services LLC bought a new stake in shares of CSX during the fourth quarter valued at approximately $34,000. Finally, Tortoise Investment Management LLC acquired a new stake in shares of CSX in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

CSX has been the topic of a number of recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $36.00 price objective on shares of CSX in a research report on Tuesday, August 6th. Susquehanna lifted their price objective on CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Wells Fargo & Company began coverage on shares of CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target for the company. Finally, Sanford C. Bernstein increased their price objective 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. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.80.

CSX Stock Up 1.2 %

NASDAQ:CSX opened at $33.76 on Tuesday. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The stock has a 50-day moving average price of $33.92 and a two-hundred day moving average price of $34.60. The stock has a market cap of $66.00 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 1.78 and a beta of 1.19. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42.

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 business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.70 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. CSX’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.49 EPS. As a group, equities analysts expect that CSX Co. will post 1.94 earnings per share for the current year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, August 30th. CSX’s dividend payout ratio is 26.37%.

CSX 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.