DRH Investments Inc. trimmed its stake in shares of CSX Co. (NASDAQ:CSX – Free Report) by 4.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 350,675 shares of the transportation company’s stock after selling 14,939 shares during the period. CSX comprises about 12.7% of DRH Investments Inc.’s portfolio, making the stock its 5th largest position. DRH Investments Inc.’s holdings in CSX were worth $11,730,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in CSX. Price T Rowe Associates Inc. MD boosted its position in CSX by 18.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock worth $2,246,893,000 after acquiring an additional 9,914,656 shares during the last quarter. Capital International Investors lifted its position in shares of CSX by 14.3% in the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after purchasing an additional 5,041,679 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in CSX during the second quarter worth $116,430,000. M&G Plc bought a new position in CSX in the first quarter valued at $126,089,000. Finally, Wulff Hansen & CO. increased its stake in CSX by 3,243.0% in the 2nd quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after buying an additional 2,126,668 shares during the last quarter. 73.57% of the stock is owned by institutional investors.
CSX Stock Performance
NASDAQ CSX opened at $34.93 on Friday. The stock has a market cap of $68.29 billion, a PE ratio of 19.19, a P/E/G ratio of 1.77 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. The firm has a 50-day moving average of $34.02 and a 200-day moving average of $34.39. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12.
CSX Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.37%. CSX’s dividend payout ratio (DPR) is presently 26.37%.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the stock. Stephens restated an “overweight” rating and set a $42.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Evercore ISI raised CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. raised their price target on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. BMO Capital Markets reiterated an “outperform” rating and set a $40.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Finally, Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of CSX in a research note on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.80.
Read Our Latest Stock Analysis on CSX
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.
Further Reading
- Five stocks we like better than CSX
- How to Calculate Stock Profit
- MarketBeat Week in Review – 9/16 – 9/20
- What Are Dividend Achievers? An Introduction
- Don’t Miss These 3 Retail Stocks for Fall Gains
- Overbought Stocks Explained: Should You Trade Them?
- Analysts Predict 85% Upside for Wave Life Sciences After Rate Cut
Want to see what other hedge funds are holding CSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CSX Co. (NASDAQ:CSX – Free Report).
Receive News & Ratings for CSX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX and related companies with MarketBeat.com's FREE daily email newsletter.