Investors Buy Shares of CSX (CSX) on Weakness
Traders bought shares of CSX Co. (NASDAQ:CSX) on weakness during trading hours on Monday. $82.27 million flowed into the stock on the tick-up and $30.22 million flowed out of the stock on the tick-down, for a money net flow of $52.05 million into the stock. Of all companies tracked, CSX had the 17th highest net in-flow for the day. CSX traded down ($0.69) for the day and closed at $73.30
Several equities analysts have recently issued reports on the company. BidaskClub lowered CSX from a “buy” rating to a “hold” rating in a research report on Saturday, June 23rd. Citigroup boosted their target price on CSX from $67.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, June 25th. ValuEngine upgraded CSX from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Cowen restated a “$69.00” rating and set a $74.00 target price on shares of CSX in a research report on Wednesday, July 18th. Finally, Zacks Investment Research upgraded CSX from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research report on Tuesday, June 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $69.45.
The company has a market capitalization of $63.54 billion, a PE ratio of 32.03, a P/E/G ratio of 1.54 and a beta of 1.24. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.66 and a quick ratio of 1.48.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Thursday, August 30th. CSX’s dividend payout ratio (DPR) is presently 38.26%.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rehmann Capital Advisory Group increased its position in CSX by 45.8% during the 2nd quarter. Rehmann Capital Advisory Group now owns 10,561 shares of the transportation company’s stock worth $674,000 after buying an additional 3,316 shares during the period. Royal London Asset Management Ltd. bought a new position in CSX during the 2nd quarter worth $50,849,000. Steigerwald Gordon & Koch Inc. increased its position in CSX by 42.7% during the 2nd quarter. Steigerwald Gordon & Koch Inc. now owns 6,679 shares of the transportation company’s stock worth $426,000 after buying an additional 2,000 shares during the period. Strategic Wealth Partners Ltd. bought a new position in CSX during the 2nd quarter worth $128,000. Finally, Truvestments Capital LLC bought a new position in CSX during the 2nd quarter worth $836,000. Institutional investors and hedge funds own 74.52% of the company’s stock.
CSX Company Profile (NASDAQ:CSX)
CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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