Brookstone Capital Management Has $1.01 Million Holdings in CSX Co. (NASDAQ:CSX)

Brookstone Capital Management lifted its holdings in CSX Co. (NASDAQ:CSX) by 15.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,113 shares of the transportation company’s stock after purchasing an additional 3,662 shares during the period. Brookstone Capital Management’s holdings in CSX were worth $1,005,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. CFM Wealth Partners LLC increased its holdings in shares of CSX by 5.1% during the 1st quarter. CFM Wealth Partners LLC now owns 17,667 shares of the transportation company’s stock worth $655,000 after purchasing an additional 865 shares during the period. Kingswood Wealth Advisors LLC increased its holdings in shares of CSX by 85.0% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 13,604 shares of the transportation company’s stock worth $504,000 after purchasing an additional 6,251 shares during the period. Retirement Planning Group LLC bought a new position in shares of CSX during the 1st quarter worth about $206,000. Wallace Advisory Group LLC bought a new position in shares of CSX during the 1st quarter worth about $240,000. Finally, Dynamic Advisor Solutions LLC increased its holdings in shares of CSX by 10.1% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 35,503 shares of the transportation company’s stock worth $1,316,000 after purchasing an additional 3,257 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

CSX has been the topic of several research reports. Bank of America dropped their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Stifel Nicolaus upped their target price on shares of CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Royal Bank of Canada lowered their target price on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. Jefferies Financial Group lowered their target price on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, April 18th. Finally, Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of CSX in a research note on Thursday, April 18th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $37.59.

CSX Price Performance

Shares of CSX stock opened at $33.45 on Friday. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The firm’s 50 day moving average is $33.46 and its 200-day moving average is $35.13. The firm has a market capitalization of $65.39 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.71 and a beta of 1.19. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period in the prior year, the business earned $0.48 earnings per share. CSX’s quarterly revenue was down .8% on a year-over-year basis. Sell-side analysts forecast that CSX Co. will post 1.96 EPS for the current fiscal year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.48 annualized dividend and a yield of 1.43%. CSX’s dividend payout ratio is currently 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.