CSX Co. (NASDAQ:CSX) Shares Acquired by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC boosted its stake in CSX Co. (NASDAQ:CSX) by 4.9% in the second quarter, Holdings Channel.com reports. The fund owned 32,689 shares of the transportation company’s stock after buying an additional 1,527 shares during the quarter. Transcend Capital Advisors LLC’s holdings in CSX were worth $1,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of CSX. Price T Rowe Associates Inc. MD increased its stake in CSX by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock valued at $2,418,883,000 after purchasing an additional 443,755 shares during the period. Capital International Investors grew 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 during the last quarter. Fisher Asset Management LLC increased its holdings in shares of CSX by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 22,378,276 shares of the transportation company’s stock valued at $775,855,000 after purchasing an additional 470,640 shares during the period. Norges Bank acquired a new stake in shares of CSX during the fourth quarter worth $757,276,000. Finally, Charles Schwab Investment Management Inc. grew its position in CSX by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,217,832 shares of the transportation company’s stock valued at $388,922,000 after buying an additional 135,169 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Trading Down 2.2 %

CSX stock traded down $0.75 during trading on Monday, hitting $33.33. The company’s stock had a trading volume of 6,073,951 shares, compared to its average volume of 11,750,697. The stock’s fifty day moving average is $33.56 and its 200 day moving average is $35.05. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The stock has a market capitalization of $65.16 billion, a price-to-earnings ratio of 18.73, a P/E/G ratio of 1.89 and a beta of 1.20. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a $0.12 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.44%. CSX’s payout ratio is 26.37%.

Analysts Set New Price Targets

A number of brokerages have commented on CSX. Benchmark restated a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Thursday, April 18th. Wells Fargo & Company assumed coverage on CSX in a research note on Friday, June 7th. They set an “equal weight” rating and a $35.00 target price for the company. Stifel Nicolaus lifted their price target on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Bank of America cut CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Monday, July 8th. Finally, Jefferies Financial Group decreased their target price on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, April 18th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.14.

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.