Austin Private Wealth LLC Purchases 671 Shares of CSX Co. (NASDAQ:CSX)

Austin Private Wealth LLC lifted its position in CSX Co. (NASDAQ:CSX) by 6.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 11,224 shares of the transportation company’s stock after purchasing an additional 671 shares during the period. Austin Private Wealth LLC’s holdings in CSX were worth $375,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Jacobs & Co. CA increased its position in CSX by 8.3% during the 2nd quarter. Jacobs & Co. CA now owns 381,716 shares of the transportation company’s stock valued at $12,768,000 after purchasing an additional 29,294 shares during the period. Country Trust Bank purchased a new position in CSX during the 2nd quarter valued at $201,000. QRG Capital Management Inc. grew its position in shares of CSX by 15.8% in the 2nd quarter. QRG Capital Management Inc. now owns 285,648 shares of the transportation company’s stock worth $9,555,000 after buying an additional 38,977 shares during the period. Lion Street Advisors LLC purchased a new stake in shares of CSX in the 2nd quarter worth about $251,000. Finally, Bath Savings Trust Co grew its position in shares of CSX by 5.9% in the 2nd quarter. Bath Savings Trust Co now owns 50,542 shares of the transportation company’s stock worth $1,691,000 after buying an additional 2,800 shares during the period. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX stock traded down $0.25 on Friday, reaching $34.00. The company’s stock had a trading volume of 7,875,230 shares, compared to its average volume of 11,820,301. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The company has a market capitalization of $66.47 billion, a P/E ratio of 18.68, a PEG ratio of 1.89 and a beta of 1.20. The stock has a 50-day moving average price of $33.58 and a 200-day moving average price of $35.01.

CSX (NASDAQ:CSX) last posted its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the prior year, the company earned $0.49 EPS. CSX’s revenue was up .0% on a year-over-year basis. Analysts expect that CSX Co. will post 1.94 EPS for the current year.

CSX Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Susquehanna upped their price target on shares of CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a research note on Wednesday. Benchmark reiterated a “buy” rating and issued a $40.00 price target on shares of CSX in a research note on Wednesday. Stephens reiterated an “overweight” rating and issued a $42.00 price target on shares of CSX in a research note on Tuesday, August 6th. JPMorgan Chase & Co. upped their target price on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $36.00 target price on shares of CSX in a research note on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, CSX has an average rating of “Moderate Buy” and a consensus 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.