Trust Co. of Toledo NA OH Invests $216,000 in CSX Co. (NASDAQ:CSX)

Trust Co. of Toledo NA OH acquired a new stake in shares of CSX Co. (NASDAQ:CSX) in the second quarter, Holdings Channel reports. The fund acquired 6,443 shares of the transportation company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CSX. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of CSX during the first quarter valued at $29,000. Valued Wealth Advisors LLC lifted its position in CSX by 172.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 594 shares during the last quarter. Burkett Financial Services LLC acquired a new position in CSX during the 4th quarter valued at about $34,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of CSX in the fourth quarter valued at approximately $34,000. Finally, Avion Wealth raised its holdings in shares of CSX by 450.5% during the fourth quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock valued at $35,000 after buying an additional 820 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX traded up $0.86 during trading hours on Tuesday, hitting $33.86. 18,679,482 shares of the company were exchanged, compared to its average volume of 11,880,532. The firm has a fifty day simple moving average of $33.54 and a 200-day simple moving average of $35.04. The company has a market capitalization of $66.19 billion, a PE ratio of 18.75, a PEG ratio of 1.89 and a beta of 1.20. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. CSX Co. has a one year low of $29.03 and a one year high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the previous year, the company earned $0.49 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, sell-side analysts predict that CSX Co. will post 1.94 earnings per share for the current year.

CSX Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Analyst Upgrades and Downgrades

CSX has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price target on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday. Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of CSX in a research report on Thursday, April 18th. Jefferies Financial Group dropped their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, April 18th. Bank of America lowered shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Monday, July 8th. Finally, Stephens reiterated an “overweight” rating and set a $42.00 price objective on shares of CSX in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.73.

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.