Ieq Capital LLC Raises Stake in CSX Co. (NASDAQ:CSX)

Ieq Capital LLC increased its stake in CSX Co. (NASDAQ:CSX) by 4.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,595 shares of the transportation company’s stock after buying an additional 5,092 shares during the period. Ieq Capital LLC’s holdings in CSX were worth $3,666,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CSX. MFA Wealth Advisors LLC purchased a new stake in shares of CSX in the 2nd quarter worth $27,000. Financial Synergies Wealth Advisors Inc. bought a new position in CSX during the 1st quarter worth about $29,000. Strategic Financial Concepts LLC purchased a new position in CSX during the 2nd quarter valued at about $33,000. Burkett Financial Services LLC bought a new stake in shares of CSX in the 4th quarter valued at about $34,000. Finally, Tortoise Investment Management LLC purchased a new stake in shares of CSX in the 4th quarter worth approximately $35,000. Institutional investors own 73.57% of the company’s stock.

CSX Stock Up 0.4 %

Shares of CSX stock opened at $34.93 on Friday. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The firm has a market capitalization 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 stock’s 50-day simple moving average is $34.02 and its 200-day simple moving average is $34.37.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The company had revenue of $3.70 billion during 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%. CSX’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the firm posted $0.49 EPS. Equities analysts expect that CSX Co. will post 1.93 earnings per share for the current year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.37%. The ex-dividend date was Friday, August 30th. CSX’s dividend payout ratio is currently 26.37%.

Wall Street Analyst Weigh In

CSX has been the subject of a number of recent research reports. Benchmark reissued a “buy” rating and issued a $40.00 price objective on shares of CSX in a research note on Wednesday, August 7th. Stephens reissued an “overweight” rating and issued a $42.00 price target on shares of CSX in a research report on Tuesday, August 6th. Wells Fargo & Company began coverage on CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price objective on the stock. Evercore ISI upgraded shares of CSX to a “strong-buy” rating in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.80.

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.