Black Diamond Financial LLC Grows Position in CSX Co. (NASDAQ:CSX)

Black Diamond Financial LLC grew its holdings in CSX Co. (NASDAQ:CSX) by 8.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,219 shares of the transportation company’s stock after buying an additional 1,229 shares during the period. Black Diamond Financial LLC’s holdings in CSX were worth $509,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CSX. Banque Cantonale Vaudoise lifted its stake in CSX by 149.1% in the 2nd quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock worth $575,000 after purchasing an additional 10,301 shares in the last quarter. Ascent Group LLC raised its stake in CSX by 559.7% during the first quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock worth $2,179,000 after purchasing an additional 49,869 shares during the period. PFG Advisors boosted its holdings in CSX by 2.1% in the 1st quarter. PFG Advisors now owns 18,880 shares of the transportation company’s stock valued at $700,000 after purchasing an additional 387 shares during the last quarter. Partners Group Holding AG boosted its holdings in CSX by 26.8% in the 4th quarter. Partners Group Holding AG now owns 704,544 shares of the transportation company’s stock valued at $24,427,000 after purchasing an additional 149,105 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its stake in shares of CSX by 718.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 287,062 shares of the transportation company’s stock valued at $9,952,000 after buying an additional 252,006 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Performance

NASDAQ:CSX opened at $33.52 on Monday. The company has a market cap of $65.53 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The company has a fifty day simple moving average of $33.91 and a two-hundred day simple moving average of $34.48.

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

CSX Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Sanford C. Bernstein lifted their price target on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. JPMorgan Chase & Co. upped their price target on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Bank of America downgraded CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Monday, July 8th. Benchmark reaffirmed a “buy” rating and issued a $40.00 target price on shares of CSX in a research report on Wednesday, August 7th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $40.00 price target on shares of CSX in a research report on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $38.80.

About CSX

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.