Fairscale Capital LLC Buys New Stake in CSX Co. (NASDAQ:CSX)

Fairscale Capital LLC purchased a new stake in CSX Co. (NASDAQ:CSX) during the second quarter, according to its most recent filing with the SEC. The fund purchased 900 shares of the transportation company’s stock, valued at approximately $32,000.

Other hedge funds have also bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in shares of CSX during the second quarter valued at about $26,000. Financial Synergies Wealth Advisors Inc. bought a new position in CSX during the first quarter valued at approximately $29,000. MFA Wealth Advisors LLC purchased a new position in CSX during the 2nd quarter valued at approximately $27,000. Valued Wealth Advisors LLC raised its holdings in shares of CSX by 172.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock worth $35,000 after acquiring an additional 594 shares in the last quarter. Finally, Burkett Financial Services LLC purchased a new position in shares of CSX in the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX stock opened at $34.93 on Monday. The stock has a market capitalization of $68.29 billion, a price-to-earnings ratio of 19.19, a P/E/G ratio of 1.77 and a beta of 1.19. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The stock has a fifty day simple moving average of $34.02 and a two-hundred day simple moving average of $34.34.

CSX (NASDAQ:CSX) last issued its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. CSX had a net margin of 24.52% and a return on equity of 29.11%. The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the prior year, the business earned $0.49 EPS. The firm’s quarterly revenue was up .0% on a year-over-year basis. On average, analysts predict that CSX Co. will post 1.93 EPS for the current fiscal year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.12 dividend. 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 (DPR) is 26.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $40.00 price objective on shares of CSX in a research report on Tuesday, August 6th. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Monday, July 8th. Benchmark restated a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Sanford C. Bernstein raised their price objective on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $36.00 target price on shares of CSX in a research report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus price target of $38.80.

CSX Company 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.