Claro Advisors LLC Acquires New Stake in CSX Co. (NASDAQ:CSX)

Claro Advisors LLC acquired a new stake in shares of CSX Co. (NASDAQ:CSX) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,688 shares of the transportation company’s stock, valued at approximately $211,000.

A number of other hedge funds also recently bought and sold shares of CSX. Fortitude Family Office LLC purchased a new stake in CSX during the fourth quarter valued at $27,000. Life Planning Partners Inc purchased a new stake in CSX in the fourth quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in CSX in the first quarter worth about $29,000. Turtle Creek Wealth Advisors LLC purchased a new stake in CSX in the fourth quarter worth about $34,000. Finally, Burkett Financial Services LLC purchased a new stake in CSX in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Up 0.4 %

Shares of NASDAQ:CSX opened at $33.59 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. The business has a fifty day moving average of $33.46 and a two-hundred day moving average of $35.14. The stock has a market cap of $65.67 billion, a P/E ratio of 18.46, a PEG ratio of 1.73 and a beta of 1.20. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12.

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

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Friday, May 31st. CSX’s dividend payout ratio is currently 26.37%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CSX. Wells Fargo & Company began coverage on CSX in a research report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price target for the company. Jefferies Financial Group reduced their price target on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. Stifel Nicolaus increased their target price on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. UBS Group cut their target price on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, Susquehanna cut their target price on CSX from $44.00 to $40.00 and set a “positive” rating for the company in a research report on Tuesday, June 25th. 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 presently has an average rating of “Moderate Buy” and an average price target of $37.59.

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.