Austin Private Wealth LLC Purchases 671 Shares of CSX Co. (NASDAQ:CSX)

Austin Private Wealth LLC increased its position in shares of CSX Co. (NASDAQ:CSX) by 6.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,224 shares of the transportation company’s stock after acquiring an additional 671 shares during the period. Austin Private Wealth LLC’s holdings in CSX were worth $375,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of CSX in the 4th quarter valued at $757,276,000. Price T Rowe Associates Inc. MD boosted its stake in shares of CSX by 18.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock valued at $2,246,893,000 after purchasing an additional 9,914,656 shares in the last quarter. Capital International Investors boosted its stake in shares of CSX by 14.3% in the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after purchasing an additional 5,041,679 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of CSX in the 2nd quarter valued at $116,430,000. Finally, M&G Plc purchased a new stake in CSX during the 1st quarter valued at $126,089,000. Institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CSX. JPMorgan Chase & Co. raised their target price on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Benchmark reissued a “buy” rating and set a $40.00 price target on shares of CSX in a research report on Wednesday. Wells Fargo & Company initiated coverage on shares of CSX in a report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 target price for the company. Bank of America cut shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Monday, July 8th. Finally, Sanford C. Bernstein lifted their price target on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.80.

CSX Price Performance

NASDAQ:CSX traded down $0.25 during trading hours on Friday, hitting $34.00. 7,875,230 shares of the stock traded hands, compared to its average volume of 11,820,301. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The company has a market cap of $66.47 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 1.89 and a beta of 1.20. The stock has a 50 day moving average price of $33.58 and a 200 day moving average price of $35.01.

CSX (NASDAQ:CSX) last released its earnings results on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The company’s quarterly revenue was up .0% compared to the same quarter last year. Sell-side analysts forecast that CSX Co. will post 1.94 EPS for the current fiscal year.

CSX Announces Dividend

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