Resonant Capital Advisors LLC Raises Stake in CSX Corporation (NASDAQ:CSX)

Resonant Capital Advisors LLC boosted its holdings in shares of CSX Corporation (NASDAQ:CSX) by 4.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 63,439 shares of the transportation company’s stock after buying an additional 2,934 shares during the quarter. Resonant Capital Advisors LLC’s holdings in CSX were worth $1,867,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in CSX during the fourth quarter valued at $27,000. Accredited Wealth Management LLC acquired a new stake in CSX in the 4th quarter worth about $29,000. Fourth Dimension Wealth LLC purchased a new stake in CSX during the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. acquired a new position in shares of CSX during the fourth quarter valued at approximately $31,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in shares of CSX in the first quarter worth about $30,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Performance

NASDAQ:CSX opened at $33.61 on Thursday. The firm has a market capitalization of $63.14 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 2.93 and a beta of 1.23. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.88 and a quick ratio of 0.75. The business’s fifty day moving average price is $30.98 and its 200 day moving average price is $31.06. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $37.10.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. CSX had a return on equity of 26.42% and a net margin of 22.66%. On average, sell-side analysts anticipate that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 annualized dividend and a yield of 1.55%. CSX’s dividend payout ratio is presently 31.14%.

Wall Street Analysts Forecast Growth

CSX has been the subject of several recent analyst reports. Barclays cut their price objective on shares of CSX from $35.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company cut their price target on shares of CSX from $31.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, April 17th. Bank of America upped their price objective on CSX from $33.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, June 13th. BMO Capital Markets cut their target price on CSX from $36.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday, April 17th. Finally, Evercore ISI reduced their target price on CSX from $35.00 to $33.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.14.

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.