AE Wealth Management LLC Takes $445,000 Position in CSX Co. (CSX)

AE Wealth Management LLC bought a new position in CSX Co. (NASDAQ:CSX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,984 shares of the transportation company’s stock, valued at approximately $445,000.

Other hedge funds have also modified their holdings of the company. IMS Capital Management bought a new stake in shares of CSX during the second quarter valued at approximately $124,000. Archford Capital Strategies LLC bought a new stake in shares of CSX during the first quarter valued at approximately $109,000. Kaizen Advisory LLC increased its holdings in shares of CSX by 150.5% during the second quarter. Kaizen Advisory LLC now owns 2,164 shares of the transportation company’s stock valued at $138,000 after acquiring an additional 1,300 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new stake in shares of CSX during the first quarter valued at approximately $123,000. Finally, Sun Life Financial INC increased its holdings in shares of CSX by 950.0% during the second quarter. Sun Life Financial INC now owns 2,373 shares of the transportation company’s stock valued at $151,000 after acquiring an additional 2,147 shares in the last quarter. Institutional investors and hedge funds own 74.56% of the company’s stock.

CSX stock opened at $73.48 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.48 and a current ratio of 1.66. CSX Co. has a 1-year low of $48.26 and a 1-year high of $76.24. The firm has a market capitalization of $63.67 billion, a price-to-earnings ratio of 31.95, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Tuesday, July 17th. The transportation company reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.15. CSX had a return on equity of 19.31% and a net margin of 53.27%. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. research analysts predict that CSX Co. will post 3.59 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were given a $0.22 dividend. The ex-dividend date was Thursday, August 30th. This represents a $0.88 annualized dividend and a yield of 1.20%. CSX’s dividend payout ratio is currently 38.26%.

Several brokerages recently issued reports on CSX. BidaskClub upgraded CSX from a “hold” rating to a “buy” rating in a report on Wednesday, July 4th. Deutsche Bank set a $79.00 price target on CSX and gave the stock a “buy” rating in a report on Friday, June 8th. Zacks Investment Research upgraded CSX from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a report on Tuesday, June 19th. UBS Group set a $82.00 price target on CSX and gave the stock a “buy” rating in a report on Wednesday, July 18th. Finally, ValuEngine upgraded CSX from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. CSX presently has an average rating of “Buy” and a consensus target price of $69.45.

CSX Profile

CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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