abrdn plc Has $28.74 Million Stock Position in CSX Co. (NASDAQ:CSX)

abrdn plc lifted its holdings in shares of CSX Co. (NASDAQ:CSX) by 66.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 828,980 shares of the transportation company’s stock after purchasing an additional 329,797 shares during the period. abrdn plc’s holdings in CSX were worth $28,741,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Dupree Financial Group LLC acquired a new stake in CSX in the fourth quarter valued at approximately $646,000. J.W. Cole Advisors Inc. grew its stake in CSX by 56.0% in the fourth quarter. J.W. Cole Advisors Inc. now owns 22,043 shares of the transportation company’s stock valued at $764,000 after acquiring an additional 7,912 shares during the period. Castle Wealth Management LLC grew its stake in CSX by 2.4% in the fourth quarter. Castle Wealth Management LLC now owns 15,413 shares of the transportation company’s stock valued at $534,000 after acquiring an additional 367 shares during the period. Greenleaf Trust grew its stake in CSX by 15.2% in the fourth quarter. Greenleaf Trust now owns 83,917 shares of the transportation company’s stock valued at $2,909,000 after acquiring an additional 11,103 shares during the period. Finally, Resonant Capital Advisors LLC boosted its position in shares of CSX by 93.9% during the fourth quarter. Resonant Capital Advisors LLC now owns 48,541 shares of the transportation company’s stock valued at $1,683,000 after buying an additional 23,504 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Performance

NASDAQ:CSX opened at $34.62 on Tuesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The firm has a market cap of $67.68 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 2.05 and a beta of 1.18. The business’s fifty day moving average is $36.83 and its 200 day moving average is $34.43.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period in the previous year, the company posted $0.48 EPS. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. Research analysts predict that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.39%. This is a boost from CSX’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 28th. CSX’s payout ratio is presently 26.37%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CSX shares. BMO Capital Markets lifted their target price on CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Royal Bank of Canada cut their target price on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. Stifel Nicolaus boosted their price objective on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Benchmark reissued a “buy” rating and issued a $40.00 price objective on shares of CSX in a research report on Thursday, April 18th. Finally, TD Cowen boosted their price objective on CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $38.00.

CSX Profile

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.