Malaga Cove Capital LLC Has $509,000 Stock Position in CSX Co. (NASDAQ:CSX)

Malaga Cove Capital LLC grew its position in CSX Co. (NASDAQ:CSX) by 57.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,221 shares of the transportation company’s stock after purchasing an additional 5,563 shares during the period. Malaga Cove Capital LLC’s holdings in CSX were worth $509,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gilbert & Cook Inc. boosted its holdings in CSX by 4.4% in the fourth quarter. Gilbert & Cook Inc. now owns 19,037 shares of the transportation company’s stock worth $660,000 after purchasing an additional 798 shares in the last quarter. 9258 Wealth Management LLC boosted its stake in shares of CSX by 8.0% during the 4th quarter. 9258 Wealth Management LLC now owns 12,184 shares of the transportation company’s stock worth $422,000 after acquiring an additional 900 shares in the last quarter. Gryphon Financial Partners LLC increased its holdings in shares of CSX by 7.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 20,416 shares of the transportation company’s stock valued at $693,000 after acquiring an additional 1,422 shares during the last quarter. Principal Securities Inc. bought a new position in shares of CSX in the 4th quarter valued at approximately $501,000. Finally, Cary Street Partners Investment Advisory LLC lifted its holdings in CSX by 4.2% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 34,872 shares of the transportation company’s stock worth $1,209,000 after purchasing an additional 1,398 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CSX shares. JPMorgan Chase & Co. lifted their price target on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Sanford C. Bernstein upped their price target on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Evercore ISI upgraded CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Benchmark reissued a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Finally, Susquehanna raised their target price on CSX from $40.00 to $41.00 and gave the company a “positive” rating in a report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.80.

CSX Stock Performance

NASDAQ CSX opened at $33.76 on Tuesday. The stock has a market cap of $66.00 billion, a P/E ratio of 18.55, a PEG ratio of 1.78 and a beta of 1.19. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The company’s 50-day simple moving average is $33.92 and its 200 day simple moving average is $34.60.

CSX (NASDAQ:CSX) last issued its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. CSX’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 EPS. As a group, research analysts forecast that CSX Co. will post 1.94 earnings per share for the current fiscal year.

CSX Announces Dividend

The company 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 dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Friday, August 30th. CSX’s dividend payout ratio (DPR) is currently 26.37%.

CSX Company 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.