In a recent Form 13F filing with the Securities and Exchange Commission, Buckley Wealth Management LLC revealed that it has acquired a new position in CSX Co. (NASDAQ:CSX) during the second quarter of this year. The institutional investor purchased 6,848 shares of the transportation company’s stock, which is valued at approximately $234,000.
This move by Buckley Wealth Management LLC indicates their confidence in CSX Co. and its potential for growth in the market. It also reflects the investor’s belief in the long-term value of the transportation sector, as well as their commitment to diversifying their portfolio.
Additionally, CSX Co. recently announced its quarterly dividend payment on September 15th. Stockholders who were recorded as of August 31st received a dividend of $0.11 per share. This translates to an annualized dividend payout ratio of 22.22% and a dividend yield of 1.41%.
The announcement of a dividend payment underscores CSX Co.’s commitment to rewarding its shareholders and providing them with consistent returns on their investments. This move may attract more investors seeking stable sources of income amidst economic uncertainties.
CSX Co., a transportation company operating primarily in North America, has been recognized for its strong performance and ability to adapt to changing market conditions. Its reliable network and efficient operations have allowed it to navigate through various challenges successfully.
With Buckley Wealth Management LLC joining its list of investors, CSX Co. stands to benefit from increased capital infusion and heightened market interest. Moreover, this partnership could potentially pave the way for future collaborations or opportunities within the transportation industry.
Investors following this development should monitor CSX Co.’s performance closely, both in terms of financial results and market trends affecting the transportation sector as a whole.
In conclusion, Buckley Wealth Management LLC’s recent acquisition of shares in CSX Co., along with the company’s announcement of a quarterly dividend payment, suggests a positive outlook for the transportation company. This development underscores CSX Co.’s strength as an investment option and its commitment to rewarding shareholders. As the transportation sector continues to evolve, investors should monitor CSX Co.’s progress and evaluate its potential for long-term growth and stability.
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Hedge Funds Show Confidence in CSX as Analysts Weigh In on Stock’s Prospects
In recent months, various hedge funds have made significant changes to their positions in transportation company CSX. Thompson Investment Management Inc. acquired a new stake in CSX during the first quarter, valued at approximately $25,000. Kalos Management Inc. also bought a new position in CSX during the same period, with a value of around $25,000. Additionally, Fortis Capital Advisors LLC purchased a new position in CSX during the fourth quarter worth about $27,000.
TimeScale Financial Inc., on the other hand, witnessed substantial growth in its position in shares of CSX during the first quarter. Their ownership increased by an impressive 1,391.8%, with TimeScale Financial now owning 910 shares of CSX’s stock worth $27,000 after adding an additional 849 shares during that period.
Perhaps the most astonishing move came from Graham Capital Wealth Management LLC, which invested a substantial sum in CSX during the first quarter – precisely $311,675,000 – exemplifying the confidence they have in the company’s potential for growth. Currently, institutional investors own approximately 72.76% of CSX’s stock.
Given all these developments regarding hedge fund activities and investments in CSX, it is essential to consider what equity research analysts have to say about the company’s prospects.
Citigroup analysts recently decreased their price target for CSX from $39.00 to $38.00 but maintained a “buy” rating on the stock as detailed in their report on Friday, July 21st. Similarly, Benchmark reiterated its “buy” rating and set a price objective of $37.00 on CSX’s shares that same day.
Susquehanna analysts lowered their target price for CSX from $38.00 to $36.00 while maintaining a “neutral” rating on September 21st this year.
Bank of America took an even more positive stance toward CSX, upgrading the stock from a “neutral” rating to a “buy” rating on Friday, September 8th. They also raised their price target for the stock from $34.00 to $36.00.
Further bolstering optimism, Stephens reaffirmed its “overweight” rating and established a price objective of $39.00 for CSX’s shares in their research report issued on Friday, July 21st.
Overall, a consensus seems to be developing among analysts that CSX is worth considering as an investment opportunity. Nine research analysts have assigned it a hold rating, while fifteen have given it a buy rating. According to data from Bloomberg.com, the stock currently has a consensus rating of “Moderate Buy” with an average target price of $35.43.
As of Tuesday’s trading session, CSX opened at $31.10 on NASDAQ. The company boasts a quick ratio of 1.21 and a current ratio of 1.42, indicating its ability to meet short-term financial obligations efficiently. Additionally, CSX maintains a debt-to-equity ratio of 1.46.
Over the past year, CSX’s stock has experienced volatility, rising from its low point of $25.80 to reach a high of $34.38. Its 50-day moving average price is reported as $31.65 while its 200-day moving average stands at $31.37.
The market capitalization for CSX currently amounts to $62.40 billion with a PE ratio of 15.71 and a price-to-earnings-growth ratio of 2.66 – figures that investors often use to assess valuation relative to future earnings growth potential.
Regarding CSX’s quarterly earnings results released on Thursday, July 20th this year, the transportation company reported earnings per share (EPS) of $0.49 for the quarter, which met analysts’ expectations. CSX also demonstrated a return on equity of 32.82% and a net margin of 27.36%. However, the company’s revenue for the quarter was $3.70 billion, slightly lower than analyst estimates of $3.73 billion. Compared to the same quarter the previous year, CSX experienced a decrease in quarterly revenue by 3.1%.
As for future forecasts, equities research analysts predict that CSX Co. will post an EPS of 1.9 for the current fiscal year.
Investors following hedge fund activities have witnessed significant changes in holdings related to CSX over recent months. Analysts’ opinions on the stock vary but overall lean towards positivity regarding its potential growth prospects. With its current market performance and financial indicators, CSX remains a noteworthy option for investors to explore further.
Disclosure: The information presented here is purely educational and should not be construed as financial advice or an endorsement of any security or strategy mentioned above. Please consult with your financial advisor before making investment decisions.
