CSX Co. (NASDAQ:CSX) Shares Acquired by Summit Global Investments

Summit Global Investments increased its stake in shares of CSX Co. (NASDAQ:CSX) by 69.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,253 shares of the transportation company’s stock after acquiring an additional 6,658 shares during the period. Summit Global Investments’ holdings in CSX were worth $563,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CSX. Fortitude Family Office LLC purchased a new stake in shares of CSX during the 4th quarter worth about $27,000. Life Planning Partners Inc acquired a new position in CSX in the 4th quarter worth about $27,000. Venturi Wealth Management LLC boosted its position in CSX by 228.4% during the third quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock worth $31,000 after purchasing an additional 692 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in CSX in the fourth quarter valued at approximately $34,000. Finally, Avion Wealth increased its position in shares of CSX by 450.5% in the fourth quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock valued at $35,000 after buying an additional 820 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Trading Up 0.8 %

Shares of CSX stock opened at $33.85 on Friday. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. The business’s 50 day moving average is $36.23 and its two-hundred day moving average is $34.54. The company has a market capitalization of $66.17 billion, a P/E ratio of 18.60, a price-to-earnings-growth ratio of 2.03 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 earnings per share. Equities analysts forecast that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a dividend of $0.12 per share. This is a positive change from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Wednesday, February 28th. CSX’s payout ratio is presently 26.37%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and issued a $40.00 price target on shares of CSX in a research note on Thursday, April 18th. Jefferies Financial Group dropped their price target on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. Stifel Nicolaus raised their price objective on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a report on Friday, April 12th. BMO Capital Markets upped their target price on shares of CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, TD Cowen increased their target price on shares of CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

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.