abrdn plc Grows Stake in CSX Co. (NASDAQ:CSX)

abrdn plc increased its stake in CSX Co. (NASDAQ:CSX) by 66.1% in the 4th quarter, HoldingsChannel reports. The fund owned 828,980 shares of the transportation company’s stock after acquiring an additional 329,797 shares during the period. abrdn plc’s holdings in CSX were worth $28,741,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Fortitude Family Office LLC purchased a new position in shares of CSX during the fourth quarter valued at approximately $27,000. Life Planning Partners Inc purchased a new position in shares of CSX during the fourth quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of CSX in the fourth quarter valued at approximately $34,000. Venturi Wealth Management LLC boosted its holdings in shares of CSX by 228.4% in the third quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 692 shares during the period. Finally, Avion Wealth boosted its holdings in shares of CSX by 450.5% in the fourth quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 820 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX opened at $34.62 on Tuesday. The firm has a market capitalization of $67.68 billion, a PE ratio of 19.02, a price-to-earnings-growth ratio of 2.05 and a beta of 1.18. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The company’s fifty day moving average price is $36.83 and its 200-day moving average price is $34.43.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.48 earnings per share. On average, equities research analysts predict that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.39%. CSX’s payout ratio is 26.37%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Susquehanna boosted their price target on CSX from $42.00 to $44.00 and gave the company a “positive” rating in a report on Thursday, March 28th. BMO Capital Markets boosted their price target on CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. StockNews.com lowered CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Bank of America reduced their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Finally, TD Cowen boosted their price objective on shares of CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

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.