Summit Trail Advisors LLC Grows Stake in CSX Co. (NASDAQ:CSX)

Summit Trail Advisors LLC grew its holdings in shares of CSX Co. (NASDAQ:CSX) by 85.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 87,332 shares of the transportation company’s stock after buying an additional 40,268 shares during the period. Summit Trail Advisors LLC’s holdings in CSX were worth $2,921,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Synergies Wealth Advisors Inc. purchased a new stake in CSX in the first quarter worth $29,000. MFA Wealth Advisors LLC bought a new position in shares of CSX in the 2nd quarter worth about $27,000. Valued Wealth Advisors LLC lifted its position in CSX by 172.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 594 shares during the period. Burkett Financial Services LLC bought a new stake in CSX during the fourth quarter worth about $34,000. Finally, Tortoise Investment Management LLC purchased a new stake in CSX in the fourth quarter worth about $35,000. Institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CSX. Sanford C. Bernstein lifted their target price on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday, July 8th. JPMorgan Chase & Co. lifted their price objective on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $36.00 target price on shares of CSX in a research note on Tuesday, August 6th. Benchmark reaffirmed a “buy” rating and issued a $40.00 price target on shares of CSX in a research report on Wednesday, August 7th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $40.00 price objective on shares of CSX in a research report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.80.

CSX Price Performance

NASDAQ CSX opened at $34.93 on Friday. The business’s fifty day moving average is $34.02 and its 200 day moving average is $34.39. 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 1.01 and a current ratio of 1.16. The company has a market capitalization of $68.29 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19.

CSX (NASDAQ:CSX) last announced its quarterly earnings data 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. CSX had a return on equity of 29.11% and a net margin of 24.52%. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the previous year, the company posted $0.49 EPS. The firm’s revenue was up .0% on a year-over-year basis. Sell-side analysts predict that CSX Co. will post 1.93 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.12 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a yield of 1.37%. CSX’s 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.