Brighton Jones LLC Buys 6,280 Shares of CSX Co. (NASDAQ:CSX)

Brighton Jones LLC lifted its stake in shares of CSX Co. (NASDAQ:CSX) by 48.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,160 shares of the transportation company’s stock after acquiring an additional 6,280 shares during the quarter. Brighton Jones LLC’s holdings in CSX were worth $641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in CSX by 0.7% during the 1st 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 raised its stake in CSX by 14.3% during the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after buying an additional 5,041,679 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in CSX by 2.0% in the fourth quarter. Fisher Asset Management LLC now owns 22,340,864 shares of the transportation company’s stock valued at $774,558,000 after buying an additional 433,228 shares during the period. Bank of New York Mellon Corp boosted its position 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 valued at $573,128,000 after acquiring an additional 1,060,204 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in CSX by 9.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock worth $415,466,000 after acquiring an additional 1,060,617 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Price Performance

Shares of NASDAQ CSX opened at $34.93 on Friday. The stock has a market cap of $68.29 billion, a price-to-earnings ratio of 19.19, a PEG 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. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The firm’s 50-day simple moving average is $34.02 and its 200 day simple moving average is $34.37.

CSX (NASDAQ:CSX) last posted its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share 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 for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter last year, the company earned $0.49 earnings per share. The company’s revenue for the quarter was up .0% on a year-over-year basis. As a group, research analysts anticipate that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Friday, August 30th. CSX’s dividend payout ratio is 26.37%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CSX. BMO Capital Markets reissued an “outperform” rating and issued a $40.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research note on Monday, July 8th. JPMorgan Chase & Co. raised their price objective on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. 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 report on Wednesday, August 7th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $36.00 price target on shares of CSX in a research note on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.80.

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.