CSX Co. (NASDAQ:CSX) Shares Purchased by Highland Capital Management LLC

Highland Capital Management LLC grew its stake in shares of CSX Co. (NASDAQ:CSX) by 1.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 125,083 shares of the transportation company’s stock after acquiring an additional 2,064 shares during the period. Highland Capital Management LLC’s holdings in CSX were worth $4,184,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of CSX in the first quarter worth approximately $29,000. MFA Wealth Advisors LLC acquired a new stake in CSX during the 2nd quarter valued at $27,000. Valued Wealth Advisors LLC lifted its holdings in shares of CSX by 172.7% in the first quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 594 shares in the last quarter. Burkett Financial Services LLC acquired a new stake in shares of CSX in the fourth quarter worth $34,000. Finally, Tortoise Investment Management LLC purchased a new position in shares of CSX during the fourth quarter valued at $37,000. 73.57% of the stock is owned by institutional investors.

CSX Stock Performance

CSX stock traded up $0.46 during mid-day trading on Friday, reaching $33.69. The company had a trading volume of 10,397,905 shares, compared to its average volume of 11,735,369. The company has a 50 day moving average of $33.73 and a 200-day moving average of $34.84. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. The firm has a market cap of $65.86 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 1.89 and a beta of 1.20.

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

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. CSX’s dividend payout ratio is currently 26.37%.

Analyst Ratings Changes

CSX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Wells Fargo & Company initiated coverage on shares of CSX in a report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target on the stock. Susquehanna upped their price target on shares of CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a research note on Wednesday, August 7th. Benchmark reissued a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $40.00 target price on shares of CSX in a research report on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.80.

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.