BTR Capital Management Inc. Grows Position in CSX Co. (NASDAQ:CSX)

BTR Capital Management Inc. increased its position in CSX Co. (NASDAQ:CSXGet Rating) by 2.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 220,054 shares of the transportation company’s stock after purchasing an additional 6,076 shares during the quarter. BTR Capital Management Inc.’s holdings in CSX were worth $6,395,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CSX. Whittier Trust Co. of Nevada Inc. raised its stake in CSX by 80.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 811 shares of the transportation company’s stock valued at $30,000 after buying an additional 361 shares during the last quarter. Core Alternative Capital raised its stake in CSX by 663.9% during the first quarter. Core Alternative Capital now owns 825 shares of the transportation company’s stock valued at $31,000 after buying an additional 717 shares during the last quarter. Bank of New Hampshire purchased a new position in CSX during the first quarter valued at $34,000. Marshall & Sullivan Inc. WA bought a new stake in shares of CSX in the 2nd quarter worth $34,000. Finally, Rational Advisors LLC bought a new stake in shares of CSX in the 1st quarter worth $36,000. Hedge funds and other institutional investors own 73.60% of the company’s stock.

CSX Price Performance

Shares of CSX stock opened at $29.49 on Monday. The stock’s 50-day simple moving average is $31.89 and its 200-day simple moving average is $32.72. CSX Co. has a 52 week low of $27.59 and a 52 week high of $38.63. The company has a market capitalization of $63.15 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 1.54 and a beta of 1.21. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.22.

CSX (NASDAQ:CSXGet Rating) last posted its earnings results on Wednesday, July 20th. The transportation company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The company had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.67 billion. CSX had a return on equity of 29.07% and a net margin of 28.24%. The firm’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 earnings per share. As a group, analysts expect that CSX Co. will post 1.89 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a $0.10 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.36%. CSX’s dividend payout ratio is currently 22.47%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Loop Capital raised CSX from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a report on Thursday, July 21st. Stephens lifted their target price on CSX from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, July 21st. Susquehanna reduced their target price on CSX from $36.00 to $35.00 in a report on Thursday, July 21st. Credit Suisse Group lifted their target price on CSX to $37.00 in a report on Friday, July 22nd. Finally, Cowen cut their price objective on CSX from $39.00 to $37.00 and set a “market perform” rating for the company in a report on Thursday, July 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, CSX has an average rating of “Moderate Buy” and an average price target of $36.33.

About CSX

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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 transports chemicals, agricultural and food products, automotive, minerals, 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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