CSX Co. (NASDAQ:CSX) Shares Acquired by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV increased its position in CSX Co. (NASDAQ:CSX) by 1.5% during the first quarter, HoldingsChannel.com reports. The fund owned 71,084 shares of the transportation company’s stock after acquiring an additional 1,033 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in CSX were worth $2,635,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Fortitude Family Office LLC purchased a new stake in CSX in the 4th quarter valued at approximately $27,000. Life Planning Partners Inc purchased a new position in shares of CSX during the 4th quarter worth $27,000. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of CSX during the 1st quarter worth $29,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of CSX during the 4th quarter worth $34,000. Finally, Burkett Financial Services LLC purchased a new position in shares of CSX during the 4th quarter worth $34,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Performance

Shares of CSX stock opened at $33.55 on Thursday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. CSX Co. has a one year low of $29.03 and a one year high of $40.12. The company’s 50-day simple moving average is $33.42 and its 200-day simple moving average is $35.13. The stock has a market capitalization of $65.59 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.73 and a beta of 1.20.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter last year, the company posted $0.48 earnings per share. The company’s quarterly revenue was down .8% compared to the same quarter last year. Equities analysts anticipate that CSX Co. will post 1.96 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a $0.12 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.48 dividend on an annualized basis and a yield of 1.43%. CSX’s dividend payout ratio is currently 26.37%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Bank of America reduced their price target on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Jefferies Financial Group reduced their price target on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, April 18th. Wells Fargo & Company assumed coverage on CSX in a research report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 target price on the stock. UBS Group cut their target price on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Finally, Stifel Nicolaus increased their price target on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a report on Friday, April 12th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and an average price target of $37.59.

CSX Company 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.