Citizens Financial Group Inc. RI Grows Position in CSX Co. (NASDAQ:CSX)

Citizens Financial Group Inc. RI raised its stake in CSX Co. (NASDAQ:CSX) by 7.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,189 shares of the transportation company’s stock after acquiring an additional 2,366 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in CSX were worth $1,177,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Financial Synergies Wealth Advisors Inc. acquired a new position in CSX in the 1st quarter valued at about $29,000. MFA Wealth Advisors LLC acquired a new position in shares of CSX in the second quarter valued at approximately $27,000. Valued Wealth Advisors LLC lifted its stake in shares of CSX by 172.7% during the first quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock valued at $35,000 after buying an additional 594 shares during the period. Burkett Financial Services LLC acquired a new stake in CSX during the fourth quarter worth approximately $34,000. Finally, Tortoise Investment Management LLC purchased a new stake in CSX in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Sanford C. Bernstein raised their price objective on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Bank of America cut CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Monday, July 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $36.00 price objective on shares of CSX in a report on Tuesday, August 6th. Susquehanna boosted their target price on shares of CSX from $40.00 to $41.00 and gave the company a “positive” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company started coverage on shares of CSX in a research note on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and a consensus price target of $38.80.

CSX Trading Up 0.8 %

NASDAQ:CSX opened at $34.07 on Wednesday. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12. The business’s 50-day moving average is $33.95 and its two-hundred day moving average is $34.42. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The firm has a market capitalization of $66.60 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19.

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

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Friday, August 30th. CSX’s payout ratio is 26.37%.

About CSX

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.