Bahl & Gaynor Inc. Acquires 1,493 Shares of CSX Corporation (CSX)
Bahl & Gaynor Inc. grew its holdings in shares of CSX Corporation (NASDAQ:CSX) by 17.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 10,068 shares of the transportation company’s stock after purchasing an additional 1,493 shares during the period. Bahl & Gaynor Inc.’s holdings in CSX Corporation were worth $362,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Gradient Investments LLC lifted its holdings in shares of CSX Corporation by 38.1% during the second quarter. Gradient Investments LLC now owns 1,954 shares of the transportation company’s stock valued at $107,000 after purchasing an additional 539 shares during the last quarter. Reilly Financial Advisors LLC lifted its holdings in shares of CSX Corporation by 33.1% during the second quarter. Reilly Financial Advisors LLC now owns 2,012 shares of the transportation company’s stock valued at $110,000 after purchasing an additional 500 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of CSX Corporation by 8.7% during the first quarter. Assetmark Inc. now owns 2,186 shares of the transportation company’s stock valued at $102,000 after purchasing an additional 175 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of CSX Corporation by 14.9% during the second quarter. Parallel Advisors LLC now owns 2,194 shares of the transportation company’s stock valued at $108,000 after purchasing an additional 285 shares during the last quarter. Finally, LBA Wealth Management LLC lifted its holdings in shares of CSX Corporation by 323.1% during the first quarter. LBA Wealth Management LLC now owns 2,619 shares of the transportation company’s stock valued at $122,000 after purchasing an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 69.82% of the company’s stock.
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Several equities analysts have recently issued reports on CSX shares. BidaskClub lowered shares of CSX Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Credit Suisse Group reiterated a “buy” rating and set a $65.00 target price on shares of CSX Corporation in a report on Friday, July 14th. Royal Bank Of Canada reiterated a “buy” rating and set a $65.00 target price on shares of CSX Corporation in a report on Wednesday, July 12th. Zacks Investment Research upgraded shares of CSX Corporation from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a report on Tuesday, July 11th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $65.00 target price (up from $56.00) on shares of CSX Corporation in a report on Tuesday, June 6th. Twelve analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $54.13.
Shares of CSX Corporation (NASDAQ:CSX) opened at 51.85 on Tuesday. The stock’s 50 day moving average is $50.09 and its 200-day moving average is $50.71. The company has a market cap of $47.36 billion, a P/E ratio of 27.12 and a beta of 1.30. CSX Corporation has a 12 month low of $29.09 and a 12 month high of $55.48.
CSX Corporation (NASDAQ:CSX) last released its quarterly earnings data on Tuesday, July 18th. The transportation company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.05. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.85 billion. CSX Corporation had a net margin of 15.46% and a return on equity of 16.93%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 earnings per share. On average, equities analysts forecast that CSX Corporation will post $2.22 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were paid a $0.20 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.54%. CSX Corporation’s payout ratio is currently 41.88%.
CSX Corporation announced that its board has authorized a share buyback program on Tuesday, July 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the transportation company to reacquire up to 1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
In other CSX Corporation news, Director Ridge Lp Mantle acquired 1,357,000 shares of the business’s stock in a transaction dated Friday, July 21st. The shares were purchased at an average price of $51.59 per share, for a total transaction of $70,007,630.00. Following the completion of the purchase, the director now directly owns 106 shares of the company’s stock, valued at $5,468.54. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 4.79% of the stock is owned by corporate insiders.
CSX Corporation Company Profile
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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