6,870 Shares in CSX Co. (NASDAQ:CSX) Purchased by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC acquired a new position in shares of CSX Co. (NASDAQ:CSX) during the first quarter, HoldingsChannel reports. The fund acquired 6,870 shares of the transportation company’s stock, valued at approximately $255,000.

A number of other institutional investors also recently modified their holdings of CSX. Fortitude Family Office LLC bought a new position in CSX in the 4th quarter valued at $27,000. Life Planning Partners Inc bought a new position in CSX in the fourth quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. bought a new position in CSX in the first quarter valued at about $29,000. Turtle Creek Wealth Advisors LLC acquired a new stake in CSX in the fourth quarter worth about $34,000. Finally, Burkett Financial Services LLC bought a new stake in CSX during the 4th quarter worth about $34,000. 73.57% of the stock is owned by institutional investors.

CSX Stock Up 1.3 %

Shares of CSX stock traded up $0.42 on Friday, hitting $33.45. 15,864,930 shares of the stock were exchanged, compared to its average volume of 11,233,274. The business has a 50-day moving average of $33.46 and a 200 day moving average of $35.13. 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 $65.39 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 1.73 and a beta of 1.19. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the prior year, the firm posted $0.48 EPS. The business’s revenue was down .8% on a year-over-year basis. Equities analysts anticipate that CSX Co. will post 1.96 EPS for the current year.

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Friday, May 31st. CSX’s dividend payout ratio (DPR) is currently 26.37%.

Wall Street Analyst Weigh In

CSX has been the subject of several analyst reports. Royal Bank of Canada dropped their price target on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Wells Fargo & Company initiated coverage on shares of CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 target price for the company. Benchmark restated a “buy” rating and issued a $40.00 price target on shares of CSX in a research report on Thursday, April 18th. Jefferies Financial Group dropped their price objective on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, April 18th. Finally, Susquehanna reduced their target price on CSX from $44.00 to $40.00 and set a “positive” rating on the stock in a report on Tuesday, June 25th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.59.

CSX Company 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.