Burke & Herbert Bank & Trust Co. Takes $3.95 Million Position in CSX Co. (NASDAQ:CSX)

Burke & Herbert Bank & Trust Co. bought a new stake in CSX Co. (NASDAQ:CSX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 118,220 shares of the transportation company’s stock, valued at approximately $3,954,000. CSX accounts for about 1.0% of Burke & Herbert Bank & Trust Co.’s investment portfolio, making the stock its 20th biggest holding.

A number of other hedge funds have also recently bought and sold shares of the business. Miracle Mile Advisors LLC grew its holdings in CSX by 0.3% during the 1st quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock worth $3,839,000 after acquiring an additional 303 shares during the last quarter. Team Hewins LLC grew its holdings in CSX by 1.7% during the 1st quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock worth $696,000 after acquiring an additional 306 shares during the last quarter. Cornercap Investment Counsel Inc. grew its holdings in CSX by 0.3% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock worth $4,169,000 after acquiring an additional 309 shares during the last quarter. FCA Corp TX grew its holdings in CSX by 0.3% during the 4th quarter. FCA Corp TX now owns 115,572 shares of the transportation company’s stock worth $4,007,000 after acquiring an additional 339 shares during the last quarter. Finally, Appleton Partners Inc. MA grew its holdings in CSX by 1.8% during the 2nd quarter. Appleton Partners Inc. MA now owns 18,748 shares of the transportation company’s stock worth $627,000 after acquiring an additional 339 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CSX shares. JPMorgan Chase & Co. upped their price objective on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Wells Fargo & Company began coverage on shares of CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 target price on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $36.00 target price on shares of CSX in a research report on Tuesday, August 6th. BMO Capital Markets reiterated an “outperform” rating and set a $40.00 target price on shares of CSX in a research report on Tuesday, August 6th. Finally, Benchmark restated a “buy” rating and set a $40.00 price objective on shares of CSX in a report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.80.

CSX Trading Down 0.8 %

Shares of NASDAQ:CSX traded down $0.28 on Tuesday, hitting $33.22. The company had a trading volume of 13,988,925 shares, compared to its average volume of 11,814,422. The firm’s 50-day simple moving average is $33.59 and its two-hundred day simple moving average is $35.01. CSX Co. has a 1 year low of $29.03 and a 1 year 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 capitalization of $64.94 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 1.89 and a beta of 1.20.

CSX (NASDAQ:CSX) last posted its earnings results on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same period last year, the company posted $0.49 EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. Equities analysts anticipate that CSX Co. will post 1.94 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a yield of 1.44%. CSX’s dividend payout ratio (DPR) is currently 26.37%.

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.