North Capital Inc. Acquires New Shares in CSX Corporation (NASDAQ:CSX)

by · The Cerbat Gem

North Capital Inc. purchased a new position in shares of CSX Corporation (NASDAQ:CSX – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,353 shares of the transportation company’s stock, valued at approximately $69,000.

Several other hedge funds also recently bought and sold shares of the stock. Brighton Jones LLC grew its position in shares of CSX by 5.5% in the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock valued at $525,000 after purchasing an additional 849 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of CSX in the fourth quarter valued at $31,000. Steward Partners Investment Advisory LLC grew its position in shares of CSX by 13.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 118,005 shares of the transportation company’s stock valued at $3,808,000 after purchasing an additional 13,836 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of CSX by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,950,185 shares of the transportation company’s stock valued at $385,632,000 after purchasing an additional 358,042 shares during the period. Finally, Assetmark Inc. boosted its holdings in CSX by 14.8% in the fourth quarter. Assetmark Inc. now owns 424,399 shares of the transportation company’s stock valued at $13,695,000 after acquiring an additional 54,719 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on CSX in a report on Friday, March 7th. They issued a “hold” rating and a $34.00 target price on the stock. Evercore ISI reduced their target price on CSX from $35.00 to $33.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. Robert W. Baird assumed coverage on CSX in a report on Tuesday. They issued an “outperform” rating and a $38.00 target price on the stock. Baird R W upgraded CSX to a “strong-buy” rating in a report on Tuesday. Finally, Royal Bank Of Canada reduced their target price on CSX from $31.00 to $30.00 and set a “sector perform” rating on the stock in a report on Thursday, April 17th. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.14.

Get Our Latest Stock Report on CSX

CSX Trading Down 0.5%

NASDAQ:CSX opened at $33.43 on Friday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.75 and a current ratio of 0.88. CSX Corporation has a one year low of $26.22 and a one year high of $37.10. The business’s 50-day simple moving average is $31.09 and its 200 day simple moving average is $31.06. The stock has a market cap of $62.80 billion, a price-to-earnings ratio of 20.02, a price-to-earnings-growth ratio of 2.94 and a beta of 1.23.

CSX (NASDAQ:CSX – Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). The business had revenue of $3.42 billion during 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%. As a group, sell-side analysts predict that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Friday, May 30th. CSX’s dividend payout ratio is currently 31.14%.

CSX Profile

(Free Report)

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.

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