Hallmark Capital Management Inc. Makes New $350,000 Investment in CSX Co. (NASDAQ:CSX)

Hallmark Capital Management Inc. purchased a new stake in shares of CSX Co. (NASDAQ:CSX) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,525 shares of the transportation company’s stock, valued at approximately $350,000.

A number of other large investors have also bought and sold shares of the business. IMA Wealth Inc. purchased a new stake in CSX during the first quarter worth $35,000. Kavar Capital Partners LLC purchased a new position in CSX in the 2nd quarter valued at about $35,000. Destination Wealth Management acquired a new stake in CSX in the 1st quarter valued at about $36,000. FNY Investment Advisers LLC acquired a new stake in shares of CSX during the 2nd quarter worth approximately $36,000. Finally, Acima Private Wealth LLC acquired a new stake in CSX in the 1st quarter valued at approximately $45,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently commented on the stock. Stephens lowered shares of CSX from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $86.00 to $79.00 in a research note on Wednesday, July 17th. ValuEngine downgraded shares of CSX from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Credit Suisse Group reduced their price objective on shares of CSX from $92.00 to $86.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Royal Bank of Canada reduced their price objective on shares of CSX to $75.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 17th. Finally, Loop Capital downgraded shares of CSX from a “buy” rating to a “hold” rating and reduced their price objective for the company from $85.00 to $81.00 in a research note on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $78.13.

CSX opened at $72.57 on Friday. CSX Co. has a fifty-two week low of $58.47 and a fifty-two week high of $80.73. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.55 and a quick ratio of 1.44. The firm’s fifty day moving average price is $66.93 and its two-hundred day moving average price is $73.76. The company has a market capitalization of $57.92 billion, a P/E ratio of 18.90, a P/E/G ratio of 1.32 and a beta of 1.23.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Tuesday, July 16th. The transportation company reported $1.08 EPS for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.03). The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.14 billion. CSX had a return on equity of 26.96% and a net margin of 27.87%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.01 EPS. On average, equities research analysts expect that CSX Co. will post 4.14 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.96 dividend on an annualized basis and a yield of 1.32%. CSX’s dividend payout ratio is currently 25.00%.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

Further Reading: What is the return on assets (ROA) ratio?

Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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