Foster & Motley Inc. Raises Stock Holdings in CSX Co. (NASDAQ:CSX)

Foster & Motley Inc. boosted its holdings in shares of CSX Co. (NASDAQ:CSX) by 92.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,543 shares of the transportation company’s stock after purchasing an additional 10,859 shares during the quarter. Foster & Motley Inc.’s holdings in CSX were worth $754,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CSX. Price T Rowe Associates Inc. MD lifted its position in shares of CSX by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock worth $2,418,883,000 after purchasing an additional 443,755 shares during the last quarter. Capital International Investors grew its position in shares of CSX by 14.3% in the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after acquiring an additional 5,041,679 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of CSX by 2.0% in the 4th quarter. Fisher Asset Management LLC now owns 22,340,864 shares of the transportation company’s stock valued at $774,558,000 after acquiring an additional 433,228 shares during the last quarter. Norges Bank acquired a new stake in shares of CSX during the 4th quarter valued at approximately $757,276,000. Finally, Bank of New York Mellon Corp lifted its stake in CSX by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock worth $573,128,000 after purchasing an additional 1,060,204 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Susquehanna boosted their target price on shares of CSX from $40.00 to $41.00 and gave the company a “positive” rating in a research note on Wednesday, August 7th. Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Monday, July 8th. Stephens reissued an “overweight” rating and issued a $42.00 target price on shares of CSX in a report on Tuesday, August 6th. Wells Fargo & Company started coverage on CSX in a research note on Friday, June 7th. They issued an “equal weight” rating and a $35.00 target price for the company. Finally, Benchmark reiterated a “buy” rating and set a $40.00 price target on shares of CSX in a research report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average target price of $38.80.

CSX Trading Down 1.9 %

NASDAQ:CSX opened at $33.37 on Friday. The stock has a market cap of $65.24 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 1.82 and a beta of 1.20. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The business has a fifty day moving average of $33.92 and a 200-day moving average of $34.67.

CSX (NASDAQ:CSX) last announced its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. CSX’s revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.49 EPS. Equities analysts predict that CSX Co. will post 1.94 earnings per share for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.44%. CSX’s dividend payout ratio is presently 26.37%.

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.