Atomi Financial Group Inc. Buys 2,164 Shares of CSX Co. (NASDAQ:CSX)

Atomi Financial Group Inc. boosted its stake in shares of CSX Co. (NASDAQ:CSX) by 23.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,429 shares of the transportation company’s stock after acquiring an additional 2,164 shares during the quarter. Atomi Financial Group Inc.’s holdings in CSX were worth $424,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fortitude Family Office LLC bought a new position in CSX during the 4th quarter valued at about $27,000. Life Planning Partners Inc bought a new position in shares of CSX in the fourth quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of CSX in the 1st quarter worth approximately $29,000. Turtle Creek Wealth Advisors LLC bought a new stake in CSX during the 4th quarter worth approximately $34,000. Finally, Burkett Financial Services LLC acquired a new stake in CSX during the 4th quarter valued at $34,000. 73.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Jefferies Financial Group decreased their target price on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. Royal Bank of Canada dropped their target price on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Wells Fargo & Company started coverage on shares of CSX in a research note on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target on the stock. Sanford C. Bernstein boosted their price objective on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Finally, UBS Group decreased their price objective on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and a consensus price target of $37.39.

CSX Stock Up 2.8 %

Shares of CSX stock traded up $0.95 during trading on Monday, reaching $34.74. The stock had a trading volume of 7,808,407 shares, compared to its average volume of 11,788,931. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $67.91 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 1.83 and a beta of 1.20. The stock has a fifty day moving average price of $33.37 and a two-hundred day moving average price of $35.07. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 EPS. Sell-side analysts predict that CSX Co. will post 1.94 EPS for the current fiscal year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Friday, August 30th. CSX’s dividend payout ratio (DPR) is currently 26.37%.

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.