Bahl & Gaynor Inc. Acquires 1,507 Shares of CSX Co. (NASDAQ:CSX)

Bahl & Gaynor Inc. lifted its holdings in shares of CSX Co. (NASDAQ:CSX) by 3.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 42,264 shares of the transportation company’s stock after purchasing an additional 1,507 shares during the period. Bahl & Gaynor Inc.’s holdings in CSX were worth $1,414,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise boosted its stake in shares of CSX by 149.1% during the second quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock valued at $575,000 after purchasing an additional 10,301 shares during the period. Ascent Group LLC boosted its position in CSX by 559.7% during the 1st quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock valued at $2,179,000 after buying an additional 49,869 shares during the period. PFG Advisors grew its holdings in CSX by 2.1% in the 1st quarter. PFG Advisors now owns 18,880 shares of the transportation company’s stock worth $700,000 after acquiring an additional 387 shares during the last quarter. Partners Group Holding AG increased its position in shares of CSX by 26.8% in the fourth quarter. Partners Group Holding AG now owns 704,544 shares of the transportation company’s stock valued at $24,427,000 after acquiring an additional 149,105 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its stake in shares of CSX by 718.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 287,062 shares of the transportation company’s stock valued at $9,952,000 after acquiring an additional 252,006 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Sanford C. Bernstein raised their target price on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. BMO Capital Markets reiterated an “outperform” rating and issued a $40.00 price objective on shares of CSX in a research report on Tuesday, August 6th. Bank of America downgraded CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Monday, July 8th. Benchmark reaffirmed a “buy” rating and issued a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. boosted their price objective 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. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.80.

CSX Trading Up 0.5 %

NASDAQ:CSX opened at $33.45 on Friday. CSX Co. has a one year low of $29.03 and a one year high of $40.12. The company’s 50-day simple moving average is $33.91 and its 200 day simple moving average is $34.55. The firm has a market capitalization of $65.39 billion, a P/E ratio of 18.38, a PEG ratio of 1.78 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01.

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

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, August 30th. CSX’s dividend payout ratio is presently 26.37%.

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.