DRH Investments Inc. Has $11.73 Million Position in CSX Co. (NASDAQ:CSX)

DRH Investments Inc. trimmed its stake in shares of CSX Co. (NASDAQ:CSX) by 4.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 350,675 shares of the transportation company’s stock after selling 14,939 shares during the period. CSX comprises about 12.7% of DRH Investments Inc.’s portfolio, making the stock its 5th largest position. DRH Investments Inc.’s holdings in CSX were worth $11,730,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CSX. Price T Rowe Associates Inc. MD boosted its position in CSX by 18.1% during the 4th 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 acquiring an additional 9,914,656 shares during the last quarter. Capital International Investors lifted its position in shares of CSX by 14.3% in the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after purchasing an additional 5,041,679 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in CSX during the second quarter worth $116,430,000. M&G Plc bought a new position in CSX in the first quarter valued at $126,089,000. Finally, Wulff Hansen & CO. increased its stake in CSX by 3,243.0% in the 2nd quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after buying an additional 2,126,668 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Stock Performance

NASDAQ CSX opened at $34.93 on Friday. The stock has a market cap of $68.29 billion, a PE ratio of 19.19, a P/E/G 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. The firm has a 50-day moving average of $34.02 and a 200-day moving average of $34.39. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings data 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 firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period last year, the business posted $0.49 earnings per share. The business’s revenue for the quarter was up .0% compared to the same quarter last year. On average, sell-side analysts anticipate that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.37%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Stephens restated an “overweight” rating and set a $42.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Evercore ISI raised CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. raised their price target on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. BMO Capital Markets reiterated an “outperform” rating and set a $40.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Finally, Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of CSX in a research note on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company 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.