Optas LLC Boosts Stock Holdings in CSX Co. (NASDAQ:CSX)

Optas LLC raised its stake in CSX Co. (NASDAQ:CSX) by 5.3% during the first quarter, Holdings Channel reports. The firm owned 21,451 shares of the transportation company’s stock after purchasing an additional 1,072 shares during the period. Optas LLC’s holdings in CSX were worth $631,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Portside Wealth Group LLC boosted its holdings in CSX by 1.3% in the first quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company’s stock valued at $804,000 after acquiring an additional 361 shares during the last quarter. Ullmann Wealth Partners Group LLC raised its holdings in shares of CSX by 1.3% in the 1st quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company’s stock worth $862,000 after purchasing an additional 363 shares during the period. Family Legacy Inc. raised its holdings in shares of CSX by 0.6% in the 4th quarter. Family Legacy Inc. now owns 68,009 shares of the transportation company’s stock worth $2,190,000 after purchasing an additional 375 shares during the period. Patrick M Sweeney & Associates Inc. lifted its stake in shares of CSX by 1.2% in the 1st quarter. Patrick M Sweeney & Associates Inc. now owns 32,205 shares of the transportation company’s stock valued at $948,000 after purchasing an additional 378 shares in the last quarter. Finally, Faithward Advisors LLC lifted its stake in shares of CSX by 1.7% in the 4th quarter. Faithward Advisors LLC now owns 23,841 shares of the transportation company’s stock valued at $769,000 after purchasing an additional 392 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Down 0.8%

CSX stock opened at $32.12 on Friday. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The firm has a 50 day simple moving average of $29.73 and a 200-day simple moving average of $31.24. The company has a market capitalization of $60.34 billion, a P/E ratio of 17.94, a PEG ratio of 1.92 and a beta of 1.24. CSX Co. has a twelve month low of $26.22 and a twelve month high of $37.10.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 EPS 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 the consensus estimate of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, equities research analysts predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.62%. CSX’s payout ratio is 31.14%.

Analyst Ratings Changes

CSX has been the subject of a number of research analyst reports. Jefferies Financial Group dropped their target price on shares of CSX from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. BMO Capital Markets decreased their price objective on shares of CSX from $36.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday, April 17th. Deutsche Bank Aktiengesellschaft started coverage on shares of CSX in a research note on Friday, March 7th. They issued a “hold” rating and a $34.00 target price on the stock. UBS Group decreased their price target on shares of CSX from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Finally, Wells Fargo & Company lowered their price target on CSX from $31.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and an average target price of $34.14.

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.