Frank Rimerman Advisors LLC Buys 21,854 Shares of CSX Co. (NASDAQ:CSX)

Frank Rimerman Advisors LLC lifted its stake in shares of CSX Co. (NASDAQ:CSX) by 20,235.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,962 shares of the transportation company’s stock after purchasing an additional 21,854 shares during the period. Frank Rimerman Advisors LLC’s holdings in CSX were worth $735,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Banque Cantonale Vaudoise raised its holdings in CSX by 149.1% during the 2nd quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock worth $575,000 after purchasing an additional 10,301 shares during the last quarter. Ascent Group LLC boosted its stake in CSX by 559.7% in the first quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock valued at $2,179,000 after acquiring an additional 49,869 shares during the last quarter. PFG Advisors grew its holdings in CSX by 2.1% during the 1st quarter. PFG Advisors now owns 18,880 shares of the transportation company’s stock worth $700,000 after acquiring an additional 387 shares during the period. Partners Group Holding AG raised its position in shares of CSX by 26.8% during the 4th quarter. Partners Group Holding AG now owns 704,544 shares of the transportation company’s stock valued at $24,427,000 after acquiring an additional 149,105 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its stake in shares of CSX by 718.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 287,062 shares of the transportation company’s stock valued at $9,952,000 after purchasing an additional 252,006 shares during the period. 73.57% of the stock is owned by institutional investors.

CSX Stock Down 2.6 %

CSX stock opened at $34.02 on Tuesday. The business has a 50-day moving average of $34.01 and a 200-day moving average of $34.31. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The stock has a market capitalization of $66.51 billion, a P/E ratio of 18.69, a P/E/G ratio of 1.77 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01.

CSX (NASDAQ:CSX) last issued 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. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the business earned $0.49 EPS. On average, sell-side analysts anticipate that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Dividend Announcement

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

Wall Street Analyst Weigh In

CSX has been the subject of a number of analyst reports. Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of CSX in a research note on Wednesday, August 7th. JPMorgan Chase & Co. increased their price target on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Wells Fargo & Company initiated coverage on shares of CSX in a report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price objective for the company. Stephens reiterated an “overweight” rating and issued a $42.00 target price on shares of CSX in a report on Tuesday, August 6th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $40.00 price target on shares of CSX in a research report on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average price target of $38.80.

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.