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Golden State Wealth Management LLC lifted its position in shares of CSX Corporation (NASDAQ:CSX – Free Report) by 123.1% in the first quarter, Holdings Channel reports. The institutional investor owned 8,171 shares of the transportation company’s stock after acquiring an additional 4,508 shares during the period. Golden State Wealth Management LLC’s holdings in CSX were worth $241,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of CSX. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of CSX during the fourth quarter worth $27,000. Accredited Wealth Management LLC acquired a new stake in shares of CSX during the fourth quarter worth $29,000. Fourth Dimension Wealth LLC acquired a new stake in shares of CSX during the fourth quarter worth $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of CSX during the fourth quarter worth $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of CSX by 219.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,040 shares of the transportation company’s stock worth $34,000 after buying an additional 714 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.
Analyst Upgrades and Downgrades
CSX has been the subject of a number of research reports. Barclays dropped their target price on CSX from $35.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Argus set a $32.00 price target on CSX in a research note on Friday, April 25th. Raymond James Financial reaffirmed an “outperform” rating and issued a $33.00 price target (down previously from $34.00) on shares of CSX in a research note on Thursday, April 17th. UBS Group dropped their price target on CSX from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Finally, Stifel Nicolaus dropped their price target on CSX from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.14.
Get Our Latest Stock Report on CSX
CSX Stock Up 1.0%
Shares of NASDAQ CSX opened at $32.91 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.75 and a debt-to-equity ratio of 1.52. The company has a market cap of $61.82 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 2.85 and a beta of 1.24. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $37.10. The stock has a 50-day moving average price of $30.64 and a two-hundred day moving average price of $31.06.
CSX (NASDAQ:CSX – Get Free Report) last issued its earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. CSX had a return on equity of 26.42% and a net margin of 22.66%. As a group, analysts forecast that CSX Corporation will post 1.83 earnings per share for the current fiscal year.
CSX Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Friday, May 30th. CSX’s dividend payout ratio (DPR) is currently 31.14%.
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.
Further Reading
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