C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Acquires New Position in CSX Co. (NASDAQ:CSX)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in CSX Co. (NASDAQ:CSXFree Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,564 shares of the transportation company’s stock, valued at approximately $355,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Miracle Mile Advisors LLC raised its holdings in shares of CSX by 0.3% during the first quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock valued at $3,839,000 after acquiring an additional 303 shares in the last quarter. High Net Worth Advisory Group LLC increased its position in shares of CSX by 1.7% during the fourth quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock valued at $614,000 after buying an additional 304 shares during the period. Stratos Wealth Advisors LLC raised its stake in CSX by 1.1% in the fourth quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock worth $978,000 after buying an additional 304 shares in the last quarter. Cornercap Investment Counsel Inc. lifted its holdings in CSX by 0.3% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock worth $4,169,000 after buying an additional 309 shares during the period. Finally, FCA Corp TX boosted its position in CSX by 0.3% during the 4th quarter. FCA Corp TX now owns 115,572 shares of the transportation company’s stock valued at $4,007,000 after acquiring an additional 339 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. UBS Group lowered their target price on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Benchmark reissued a “buy” rating and set a $40.00 price target on shares of CSX in a research report on Thursday, April 18th. Susquehanna cut their price objective on shares of CSX from $44.00 to $40.00 and set a “positive” rating on the stock in a report on Tuesday, June 25th. Bank of America lowered shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Monday. Finally, Wells Fargo & Company initiated coverage on CSX in a research note on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.39.

Get Our Latest Stock Analysis on CSX

CSX Stock Performance

Shares of CSX traded up $0.44 during mid-day trading on Wednesday, hitting $32.92. 8,529,371 shares of the company traded hands, compared to its average volume of 11,872,041. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The stock has a 50-day moving average price of $33.37 and a two-hundred day moving average price of $35.09. The stock has a market cap of $64.36 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 1.73 and a beta of 1.20.

CSX (NASDAQ:CSXGet Free Report) last released its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the business posted $0.48 EPS. Equities analysts anticipate that CSX Co. will post 1.95 earnings per share for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Friday, May 31st. CSX’s dividend payout ratio is currently 26.37%.

CSX Company 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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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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