Raymond James Trust N.A. Buys 24,719 Shares of CSX Co. (NASDAQ:CSX)

Raymond James Trust N.A. grew its stake in shares of CSX Co. (NASDAQ:CSXGet Rating) by 29.3% in the second quarter, HoldingsChannel.com reports. The firm owned 109,061 shares of the transportation company’s stock after purchasing an additional 24,719 shares during the period. Raymond James Trust N.A.’s holdings in CSX were worth $3,170,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of CSX by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 185,175,290 shares of the transportation company’s stock worth $6,934,814,000 after buying an additional 1,585,487 shares during the last quarter. Capital World Investors boosted its stake in shares of CSX by 4.4% in the 4th quarter. Capital World Investors now owns 184,488,460 shares of the transportation company’s stock worth $6,936,719,000 after buying an additional 7,841,524 shares during the last quarter. BlackRock Inc. lifted its stake in CSX by 3.5% in the fourth quarter. BlackRock Inc. now owns 151,615,861 shares of the transportation company’s stock valued at $5,700,758,000 after purchasing an additional 5,149,812 shares during the last quarter. State Street Corp lifted its stake in CSX by 6.0% in the first quarter. State Street Corp now owns 100,226,817 shares of the transportation company’s stock valued at $3,753,494,000 after purchasing an additional 5,632,575 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in CSX by 294.9% in the first quarter. Royal Bank of Canada now owns 26,250,574 shares of the transportation company’s stock valued at $983,085,000 after purchasing an additional 19,602,668 shares during the last quarter. Hedge funds and other institutional investors own 73.60% of the company’s stock.

CSX Price Performance

CSX opened at $28.57 on Friday. The stock’s 50 day simple moving average is $31.96 and its 200 day simple moving average is $32.57. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 1.01. CSX Co. has a 1 year low of $27.59 and a 1 year high of $38.63. The firm has a market cap of $61.18 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.60 and a beta of 1.21.

CSX (NASDAQ:CSXGet Rating) last posted its quarterly earnings results on Wednesday, July 20th. The transportation company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. CSX had a return on equity of 29.07% and a net margin of 28.24%. The business had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same period last year, the company earned $0.40 EPS. CSX’s revenue for the quarter was up 27.8% compared to the same quarter last year. As a group, analysts predict that CSX Co. will post 1.89 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.40%. The ex-dividend date was Tuesday, August 30th. CSX’s dividend payout ratio (DPR) is currently 22.47%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CSX shares. Susquehanna dropped their price objective on CSX from $36.00 to $35.00 in a research note on Thursday, July 21st. StockNews.com upgraded CSX from a “hold” rating to a “buy” rating in a research report on Saturday, July 30th. Stifel Nicolaus upgraded CSX from a “hold” rating to a “buy” rating and dropped their target price for the stock from $39.00 to $37.00 in a research report on Friday, July 15th. They noted that the move was a valuation call. Susquehanna Bancshares dropped their target price on CSX from $36.00 to $35.00 and set a “positive” rating on the stock in a research report on Thursday, July 21st. Finally, Cowen dropped their target price on CSX from $39.00 to $37.00 and set a “market perform” rating on the stock in a research report on Thursday, July 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.42.

CSX Profile

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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 transports chemicals, agricultural and food products, automotive, minerals, 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.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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