Strategic Investment Solutions Inc. IL Purchases New Shares in CSX Co. (NASDAQ:CSX)

Strategic Investment Solutions Inc. IL bought a new position in shares of CSX Co. (NASDAQ:CSX) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,379 shares of the transportation company’s stock, valued at approximately $146,000.

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in shares of CSX by 18.1% during the fourth 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 purchasing an additional 9,914,656 shares in the last quarter. Capital International Investors lifted its stake in CSX by 14.3% in the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after buying an additional 5,041,679 shares in the last quarter. Interval Partners LP boosted its holdings in CSX by 849.0% in the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after buying an additional 4,579,344 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in CSX during the 2nd quarter worth approximately $116,430,000. Finally, M&G Plc acquired a new position in shares of CSX during the first quarter valued at approximately $126,089,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Down 0.0 %

Shares of CSX opened at $34.52 on Wednesday. The company’s 50-day moving average price is $33.94 and its 200 day moving average price is $34.17. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The firm has a market cap of $67.48 billion, a P/E ratio of 18.97, a price-to-earnings-growth ratio of 1.91 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. The firm had revenue of $3.70 billion for 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%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.49 EPS. On average, sell-side analysts forecast that CSX Co. will post 1.93 earnings per share for the current year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.12 per share. The ex-dividend date was Friday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.39%. CSX’s dividend payout ratio is currently 26.37%.

Wall Street Analyst Weigh In

Several research analysts recently commented on CSX shares. Stephens reissued an “overweight” rating and issued a $42.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Evercore ISI upgraded shares of CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. Wells Fargo & Company initiated coverage on shares of CSX in a research note on Friday, June 7th. They set an “equal weight” rating and a $35.00 price objective for the company. 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. Finally, JPMorgan Chase & Co. upped their price target on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and an average price target of $38.93.

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.