Black Diamond Financial LLC Acquires 1,229 Shares of CSX Co. (NASDAQ:CSX)

Black Diamond Financial LLC raised its stake in shares of CSX Co. (NASDAQ:CSX) by 8.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,219 shares of the transportation company’s stock after acquiring an additional 1,229 shares during the quarter. Black Diamond Financial LLC’s holdings in CSX were worth $509,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CSX. MFA Wealth Advisors LLC bought a new position in shares of CSX during the 2nd quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of CSX during the first quarter worth $29,000. Strategic Financial Concepts LLC purchased a new stake in shares of CSX during the 2nd quarter valued at $33,000. Burkett Financial Services LLC acquired a new stake in shares of CSX in the 4th quarter worth $34,000. Finally, Tortoise Investment Management LLC purchased a new position in CSX during the 4th quarter worth $35,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CSX. JPMorgan Chase & Co. boosted their target price on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. 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 objective for the company. BMO Capital Markets reiterated an “outperform” rating and issued a $40.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Evercore ISI upgraded shares of CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. Finally, Stephens reaffirmed an “overweight” rating and set a $42.00 price target on shares of CSX in a research report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.80.

CSX Trading Up 0.2 %

Shares of CSX stock opened at $33.52 on Monday. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The company 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 company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The stock has a 50 day simple moving average of $33.91 and a 200-day simple moving average of $34.48.

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

CSX Dividend Announcement

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

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.