CSX Co. (NASDAQ:CSX) Stake Boosted by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC increased its position in shares of CSX Co. (NASDAQ:CSX) by 20,235.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,962 shares of the transportation company’s stock after acquiring an additional 21,854 shares during the period. Frank Rimerman Advisors LLC’s holdings in CSX were worth $735,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of CSX during the 1st quarter valued at about $29,000. MFA Wealth Advisors LLC acquired a new stake in CSX in the second quarter valued at approximately $27,000. Valued Wealth Advisors LLC grew its position in CSX by 172.7% in the first quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock worth $35,000 after acquiring an additional 594 shares in the last quarter. Burkett Financial Services LLC acquired a new position in shares of CSX during the 4th quarter worth $34,000. Finally, Tortoise Investment Management LLC bought a new position in shares of CSX during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Performance

Shares of NASDAQ CSX opened at $34.02 on Tuesday. The firm has a market capitalization of $66.51 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 1.77 and a beta of 1.19. CSX Co. has a one year low of $29.03 and a one year high of $40.12. The business has a fifty day simple moving average of $34.01 and a 200 day simple moving average of $34.31. 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 (NASDAQ:CSX) last issued its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, beating 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 business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period in the previous year, the business earned $0.49 EPS. The firm’s revenue was up .0% on a year-over-year basis. Sell-side analysts expect that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. CSX’s payout ratio is presently 26.37%.

Analyst Ratings Changes

Several research firms have commented on CSX. Royal Bank of Canada reissued a “sector perform” rating and set a $36.00 target price on shares of CSX in a research report on Tuesday, August 6th. Sanford C. Bernstein upped 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. Evercore ISI raised shares of CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. Stephens reaffirmed an “overweight” rating and set a $42.00 price objective on shares of CSX in a report on Tuesday, August 6th. Finally, Susquehanna lifted their target price on shares of CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average target price 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.