CSX Corporation (NASDAQ:CSX) Shares Acquired by Forte Capital LLC ADV

Forte Capital LLC ADV grew its stake in CSX Corporation (NASDAQ:CSX) by 6.3% during the first quarter, HoldingsChannel reports. The firm owned 10,075 shares of the transportation company’s stock after purchasing an additional 595 shares during the quarter. Forte Capital LLC ADV’s holdings in CSX were worth $297,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in CSX during the fourth quarter worth $27,000. Rossby Financial LCC purchased a new stake in shares of CSX in the first quarter valued at $28,000. Accredited Wealth Management LLC purchased a new stake in shares of CSX in the fourth quarter valued at $29,000. Fourth Dimension Wealth LLC acquired a new position in CSX in the fourth quarter valued at $29,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in CSX in the first quarter valued at $30,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on CSX. Citigroup upped their price target on CSX from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Argus set a $32.00 target price on CSX in a research note on Friday, April 25th. Jefferies Financial Group lowered their target price on CSX from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Barclays reiterated an “overweight” rating and issued a $36.00 target price (up previously from $31.00) on shares of CSX in a research note on Thursday, July 10th. Finally, Stifel Nicolaus lowered their target price on CSX from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.14.

CSX Trading Up 3.7%

NASDAQ:CSX opened at $34.50 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.88 and a debt-to-equity ratio of 1.52. The business’s 50 day moving average is $32.16 and its two-hundred day moving average is $31.15. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.10. The company has a market cap of $64.81 billion, a PE ratio of 20.66, a P/E/G ratio of 2.98 and a beta of 1.23.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). CSX had a return on equity of 26.42% and a net margin of 22.66%. The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. On average, analysts predict that CSX Corporation will post 1.83 EPS for the current year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, August 29th. CSX’s dividend payout ratio (DPR) is 31.14%.

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.