Stock Yards Bank & Trust Co. Boosts Stake in CSX Corporation $CSX

Stock Yards Bank & Trust Co. lifted its stake in CSX Corporation (NASDAQ:CSX) by 0.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 45,558 shares of the transportation company’s stock after acquiring an additional 400 shares during the period. Stock Yards Bank & Trust Co.’s holdings in CSX were worth $1,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of CSX in the 1st quarter worth $30,000. Rossby Financial LCC purchased a new stake in shares of CSX in the 1st quarter worth $28,000. Kessler Investment Group LLC purchased a new stake in shares of CSX in the 1st quarter worth $32,000. Cornerstone Planning Group LLC increased its stake in shares of CSX by 45.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 1,414 shares of the transportation company’s stock worth $39,000 after purchasing an additional 444 shares in the last quarter. Finally, Caldwell Sutter Capital Inc. increased its stake in shares of CSX by 87.7% in the 1st quarter. Caldwell Sutter Capital Inc. now owns 1,541 shares of the transportation company’s stock worth $45,000 after purchasing an additional 720 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Up 1.2%

CSX opened at $36.01 on Friday. The firm has a 50-day simple moving average of $34.23 and a two-hundred day simple moving average of $31.99. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.25. The company has a market capitalization of $67.13 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 2.79 and a beta of 1.29. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the firm earned $0.49 EPS. The business’s revenue was down 3.5% on a year-over-year basis. Analysts forecast that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, August 29th. CSX’s dividend payout ratio is currently 32.10%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CSX shares. Raymond James Financial upped their target price on shares of CSX from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft raised shares of CSX from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Thursday, July 24th. TD Cowen raised shares of CSX from a “hold” rating to a “buy” rating and upped their target price for the stock from $32.00 to $45.00 in a report on Monday, July 21st. Wall Street Zen downgraded shares of CSX from a “hold” rating to a “sell” rating in a report on Friday. Finally, Bank of America dropped their target price on shares of CSX from $42.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and an average target price of $37.95.

CSX 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.