Kimelman & Baird LLC Acquires Shares of 8,100 CSX Co. (NASDAQ:CSX)

Kimelman & Baird LLC bought a new position in shares of CSX Co. (NASDAQ:CSX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,100 shares of the transportation company’s stock, valued at approximately $271,000.

Other large investors have also modified their holdings of the company. Wallace Advisory Group LLC grew its stake in shares of CSX by 62.1% during the 2nd quarter. Wallace Advisory Group LLC now owns 11,216 shares of the transportation company’s stock worth $375,000 after purchasing an additional 4,295 shares during the period. William B. Walkup & Associates Inc. purchased a new stake in CSX during the second quarter worth about $867,000. NewEdge Advisors LLC grew its position in CSX by 33.5% during the second quarter. NewEdge Advisors LLC now owns 105,929 shares of the transportation company’s stock worth $3,543,000 after buying an additional 26,610 shares during the period. Creative Planning increased its holdings in CSX by 27.5% in the second quarter. Creative Planning now owns 621,083 shares of the transportation company’s stock valued at $20,775,000 after buying an additional 134,104 shares in the last quarter. Finally, Kitching Partners LLC purchased a new position in CSX in the second quarter valued at about $359,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CSX shares. Wells Fargo & Company assumed coverage on CSX in a report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price target on the stock. Susquehanna raised their price target on CSX from $40.00 to $41.00 and gave the company a “positive” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price target on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Bank of America cut shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Monday, July 8th. Finally, Evercore ISI upgraded shares of CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and a consensus target price of $38.93.

CSX Stock Performance

NASDAQ CSX opened at $34.53 on Tuesday. The business’s 50-day moving average price is $33.92 and its 200 day moving average price is $34.18. 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 twelve month low of $29.03 and a twelve month high of $40.12. The company has a market capitalization of $67.50 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 1.91 and a beta of 1.19.

CSX (NASDAQ:CSX) last announced 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 business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period in the prior year, the firm posted $0.49 EPS. The company’s revenue was up .0% on a year-over-year basis. On average, research analysts predict that CSX Co. will post 1.93 earnings per share for the current year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.39%. CSX’s payout ratio is 26.37%.

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.