Oppenheimer Asset Management Inc. Grows Stock Position in CSX Co. (NASDAQ:CSX)

Oppenheimer Asset Management Inc. grew its position in shares of CSX Co. (NASDAQ:CSX) by 87.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 229,805 shares of the transportation company’s stock after buying an additional 106,953 shares during the period. Oppenheimer Asset Management Inc.’s holdings in CSX were worth $7,687,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CSX. Western Wealth Management LLC raised its holdings in CSX by 0.8% during the 2nd quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock valued at $1,208,000 after acquiring an additional 295 shares during the period. TriaGen Wealth Management LLC raised its stake in shares of CSX by 2.7% during the 2nd quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock valued at $385,000 after purchasing an additional 300 shares during the period. Miracle Mile Advisors LLC boosted its stake in CSX by 0.3% in the 1st quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock worth $3,839,000 after purchasing an additional 303 shares during the period. Team Hewins LLC boosted its stake in CSX by 1.7% in the 1st quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock worth $696,000 after purchasing an additional 306 shares during the period. Finally, Zions Bancorporation N.A. grew its holdings in CSX by 4.8% during the 2nd quarter. Zions Bancorporation N.A. now owns 6,985 shares of the transportation company’s stock valued at $234,000 after buying an additional 322 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Trading Up 0.2 %

Shares of CSX opened at $33.52 on Monday. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The firm has a market cap of $65.53 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 1.77 and a beta of 1.19. The firm has a 50 day moving average price of $33.91 and a 200-day moving average price of $34.48. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. CSX had a net margin of 24.52% and a return on equity of 29.11%. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the previous year, the firm posted $0.49 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. As a group, equities research analysts forecast that CSX Co. will post 1.93 earnings per share for the current year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.12 per share. The ex-dividend date was Friday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.43%. CSX’s payout ratio is 26.37%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CSX. Evercore ISI upgraded shares of CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. Bank of America lowered shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Monday, July 8th. Sanford C. Bernstein increased their price objective on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Wells Fargo & Company initiated coverage on CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 target price for the company. Finally, JPMorgan Chase & Co. upped their target price on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.80.

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.