Azzad Asset Management Inc. ADV Increases Stock Holdings in CSX Co. (NASDAQ:CSX)

Azzad Asset Management Inc. ADV increased its holdings in shares of CSX Co. (NASDAQ:CSX) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,084 shares of the transportation company’s stock after buying an additional 1,033 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in CSX were worth $2,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CSX. Morgan Stanley grew its stake in CSX by 3.1% during the 3rd quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock valued at $748,471,000 after purchasing an additional 739,411 shares during the last quarter. International Assets Investment Management LLC grew its stake in CSX by 3,241.9% during the 4th quarter. International Assets Investment Management LLC now owns 235,304 shares of the transportation company’s stock valued at $8,158,000 after purchasing an additional 228,263 shares during the last quarter. Partners Group Holding AG grew its stake in CSX by 26.8% during the 4th quarter. Partners Group Holding AG now owns 704,544 shares of the transportation company’s stock valued at $24,427,000 after purchasing an additional 149,105 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in CSX by 5.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 723,344 shares of the transportation company’s stock valued at $25,078,000 after purchasing an additional 34,730 shares during the last quarter. Finally, Sapient Capital LLC purchased a new stake in CSX during the 4th quarter valued at about $1,279,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CSX shares. Stifel Nicolaus boosted their price target on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Jefferies Financial Group lowered their target price on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, April 18th. Susquehanna lowered their target price on CSX from $44.00 to $40.00 and set a “positive” rating on the stock in a research note on Tuesday, June 25th. Benchmark restated a “buy” rating and issued a $40.00 target price on shares of CSX in a research note on Thursday, April 18th. Finally, Royal Bank of Canada lowered their target price on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.59.

CSX Trading Down 0.6 %

Shares of CSX stock opened at $33.55 on Thursday. The firm has a market capitalization of $65.59 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.73 and a beta of 1.20. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The stock has a 50 day moving average of $33.42 and a 200 day moving average of $35.13.

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

CSX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.48 annualized dividend and a dividend 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.