Chronos Wealth Management LLC Grows Stake in CSX Co. (NASDAQ:CSX)

Chronos Wealth Management LLC increased its holdings in CSX Co. (NASDAQ:CSX) by 52.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,885 shares of the transportation company’s stock after purchasing an additional 5,440 shares during the period. CSX accounts for 0.3% of Chronos Wealth Management LLC’s holdings, making the stock its 28th biggest holding. Chronos Wealth Management LLC’s holdings in CSX were worth $531,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CSX. Western Wealth Management LLC lifted its position in CSX by 0.8% during the second quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock valued at $1,208,000 after purchasing an additional 295 shares during the last quarter. TriaGen Wealth Management LLC increased its stake in CSX by 2.7% during the second quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock worth $385,000 after acquiring an additional 300 shares during the last quarter. Miracle Mile Advisors LLC raised its position in CSX by 0.3% during the first quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock valued at $3,839,000 after purchasing an additional 303 shares during the period. Team Hewins LLC lifted its stake in shares of CSX by 1.7% in the 1st quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock valued at $696,000 after purchasing an additional 306 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its stake in shares of CSX by 4.8% in the 2nd quarter. Zions Bancorporation N.A. now owns 6,985 shares of the transportation company’s stock valued at $234,000 after purchasing an additional 322 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

CSX Price Performance

CSX opened at $33.52 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The business’s fifty day simple moving average is $33.91 and its 200-day simple moving average is $34.52. The company has a market capitalization of $65.53 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 1.77 and a beta of 1.19. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12.

CSX (NASDAQ:CSX) last issued its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. CSX had a net margin of 24.52% and a return on equity of 29.11%. The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the prior year, the business earned $0.49 EPS. The firm’s quarterly revenue was up .0% on a year-over-year basis. On average, equities research analysts anticipate that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Friday, August 30th. CSX’s dividend payout ratio (DPR) is 26.37%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CSX. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of CSX in a research report on Wednesday, August 7th. Wells Fargo & Company initiated coverage on shares of CSX in a research note on Friday, June 7th. They issued an “equal weight” rating and a $35.00 target price on the stock. Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Monday, July 8th. BMO Capital Markets reissued an “outperform” rating and issued a $40.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Finally, Sanford C. Bernstein upped their target price on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.80.

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.