DRW Securities LLC Raises Stock Holdings in CSX Co. (NASDAQ:CSX)

DRW Securities LLC boosted its holdings in CSX Co. (NASDAQ:CSX) by 714.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,252 shares of the transportation company’s stock after purchasing an additional 68,639 shares during the period. DRW Securities LLC’s holdings in CSX were worth $2,624,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Itau Unibanco Holding S.A. bought a new position in shares of CSX during the 2nd quarter valued at approximately $26,000. MFA Wealth Advisors LLC purchased a new position in CSX in the second quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. bought a new position in CSX during the first quarter valued at $29,000. Fairscale Capital LLC purchased a new stake in CSX in the second quarter worth $32,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of CSX in the second quarter valued at $33,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

CSX has been the subject of several recent research reports. BMO Capital Markets reissued an “outperform” rating and issued a $40.00 price objective on shares of CSX in a report on Tuesday, August 6th. Evercore ISI raised shares of CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. Susquehanna upped their price target on shares of CSX from $40.00 to $41.00 and gave the company a “positive” rating in a research note on Wednesday, August 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $36.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Finally, Sanford C. Bernstein increased their target price on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and a consensus target price of $38.80.

CSX Price Performance

CSX stock 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 quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The business has a 50-day simple moving average of $34.02 and a 200 day simple moving average of $34.37. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share 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 earnings per share. CSX’s revenue for the quarter was up .0% compared to the same quarter last year. On average, research analysts forecast that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently disclosed 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. This represents a $0.48 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Friday, August 30th. CSX’s dividend payout ratio (DPR) is currently 26.37%.

About CSX

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.