Chartwell Investment Partners LLC Invests $2.10 Million in CSX Co. (CSX)

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Chartwell Investment Partners LLC bought a new position in shares of CSX Co. (NASDAQ:CSX) in the second quarter, Holdings Channel reports. The institutional investor bought 32,897 shares of the transportation company’s stock, valued at approximately $2,098,000.

Other hedge funds also recently added to or reduced their stakes in the company. Archford Capital Strategies LLC acquired a new position in CSX in the 1st quarter valued at about $109,000. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new position in CSX in the 1st quarter valued at about $123,000. IMS Capital Management acquired a new position in CSX in the 2nd quarter valued at about $124,000. Kaizen Advisory LLC boosted its holdings in CSX by 150.5% in the 2nd quarter. Kaizen Advisory LLC now owns 2,164 shares of the transportation company’s stock valued at $138,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Sun Life Financial INC boosted its holdings in CSX by 950.0% in the 2nd quarter. Sun Life Financial INC now owns 2,373 shares of the transportation company’s stock valued at $151,000 after purchasing an additional 2,147 shares during the last quarter. 74.59% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have weighed in on the stock. BidaskClub lowered shares of CSX from a “buy” rating to a “hold” rating in a report on Saturday, June 23rd. Citigroup boosted their target price on shares of CSX from $67.00 to $75.00 and gave the company a “buy” rating in a report on Monday, June 25th. ValuEngine upgraded shares of CSX from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Cowen restated a “$69.00” rating and issued a $74.00 price objective on shares of CSX in a report on Wednesday, July 18th. Finally, Stifel Nicolaus assumed coverage on shares of CSX in a report on Thursday, May 24th. They issued a “buy” rating and a $73.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $69.45.

CSX stock opened at $74.82 on Thursday. The company has a market cap of $64.84 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 1.58 and a beta of 1.22. CSX Co. has a 52-week low of $48.26 and a 52-week high of $76.24. The company has a current ratio of 1.66, a quick ratio of 1.48 and a debt-to-equity ratio of 0.98.

CSX (NASDAQ:CSX) last released its earnings results on Tuesday, July 17th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.15. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3 billion. CSX had a net margin of 53.27% and a return on equity of 19.31%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.64 EPS. equities analysts expect that CSX Co. will post 3.59 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 31st will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, August 30th. This represents a $0.88 dividend on an annualized basis and a yield of 1.18%. CSX’s dividend payout ratio (DPR) is presently 38.26%.

CSX Profile

CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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