Richardson Financial Services Inc. Purchases 676 Shares of CSX Co. (NASDAQ:CSX)

Richardson Financial Services Inc. boosted its holdings in shares of CSX Co. (NASDAQ:CSX) by 15.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,160 shares of the transportation company’s stock after buying an additional 676 shares during the quarter. Richardson Financial Services Inc.’s holdings in CSX were worth $173,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of 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 lifted its holdings in shares of 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 grew its stake in shares of CSX by 2.0% in the fourth quarter. Fisher Asset Management LLC now owns 22,340,864 shares of the transportation company’s stock worth $774,558,000 after acquiring an additional 433,228 shares during the last quarter. Bank of New York Mellon Corp increased 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 worth $573,128,000 after acquiring an additional 1,060,204 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in CSX by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock valued at $415,466,000 after purchasing an additional 1,060,617 shares during the period. 73.57% of the stock is owned by institutional investors.

CSX Price Performance

CSX stock opened at $34.80 on Friday. The firm has a market capitalization of $68.03 billion, a P/E ratio of 19.12, a PEG ratio of 1.77 and a beta of 1.19. The business has a 50-day moving average of $34.00 and a 200-day moving average of $34.42. 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 1 year low of $29.03 and a 1 year high of $40.12.

CSX (NASDAQ:CSX) last issued its earnings results on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 earnings per share. On average, equities analysts anticipate that CSX Co. will post 1.93 EPS for the current 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 dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Friday, August 30th. CSX’s payout ratio is presently 26.37%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CSX. Evercore ISI upgraded shares of CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Stephens restated an “overweight” rating and issued a $42.00 target price on shares of CSX in a research note on Tuesday, August 6th. JPMorgan Chase & Co. raised their target price on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Benchmark reissued a “buy” rating and set a $40.00 price objective on shares of CSX in a report on Wednesday, August 7th. Finally, Wells Fargo & Company began coverage on shares of CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 target price for the company. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.