Avalon Trust Co Grows Holdings in CSX Corporation (NASDAQ:CSX)

Avalon Trust Co boosted its stake in CSX Corporation (NASDAQ:CSX) by 92.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,160 shares of the transportation company’s stock after acquiring an additional 2,000 shares during the period. Avalon Trust Co’s holdings in CSX were worth $122,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in shares of CSX by 14.7% in the fourth quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company’s stock valued at $3,794,000 after purchasing an additional 15,029 shares during the period. CWA Asset Management Group LLC raised its position in shares of CSX by 15.1% in the first quarter. CWA Asset Management Group LLC now owns 12,514 shares of the transportation company’s stock valued at $368,000 after purchasing an additional 1,642 shares during the period. Dynamic Advisor Solutions LLC increased its holdings in CSX by 9.8% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company’s stock worth $1,141,000 after acquiring an additional 3,458 shares during the period. Farther Finance Advisors LLC increased its holdings in CSX by 61.4% during the 1st quarter. Farther Finance Advisors LLC now owns 14,154 shares of the transportation company’s stock worth $418,000 after acquiring an additional 5,382 shares during the period. Finally, Cercano Management LLC bought a new stake in CSX during the 4th quarter worth approximately $4,869,000. Institutional investors own 73.57% of the company’s stock.

CSX Trading Down 1.5%

Shares of CSX opened at $35.01 on Monday. The stock has a market capitalization of $65.27 billion, a P/E ratio of 21.61, a PEG ratio of 2.62 and a beta of 1.25. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. The firm has a fifty day simple moving average of $33.14 and a two-hundred day simple moving average of $31.36. CSX Corporation has a twelve month low of $26.22 and a twelve month high of $37.10.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. The business had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.49 EPS. On average, research analysts anticipate that CSX Corporation will post 1.83 EPS for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 29th. CSX’s dividend payout ratio (DPR) is currently 32.10%.

Analyst Upgrades and Downgrades

CSX has been the topic of a number of analyst reports. Jefferies Financial Group decreased their target price on shares of CSX from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Benchmark upped their target price on shares of CSX from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $36.00 target price (up previously from $33.00) on shares of CSX in a report on Tuesday, July 8th. Barclays upped their target price on shares of CSX from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Finally, Argus set a $32.00 price target on shares of CSX in a research note on Friday, April 25th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.00.

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.