CSX Co. (NASDAQ:CSX) Shares Acquired by SageView Advisory Group LLC

SageView Advisory Group LLC raised its position in shares of CSX Co. (NASDAQ:CSX) by 62.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,991 shares of the transportation company’s stock after buying an additional 4,238 shares during the quarter. SageView Advisory Group LLC’s holdings in CSX were worth $355,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CSX. Norges Bank acquired a new stake in CSX during the fourth quarter worth about $780,194,000. Bank of New York Mellon Corp boosted its stake in CSX by 40.5% in the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after acquiring an additional 6,730,316 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of CSX by 471.9% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock valued at $217,808,000 after purchasing an additional 5,568,624 shares during the last quarter. Invesco Ltd. raised its position in shares of CSX by 13.5% during the 4th quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company’s stock worth $810,076,000 after purchasing an additional 2,977,212 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of CSX in the 4th quarter worth approximately $85,959,000. Institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CSX. Jefferies Financial Group lowered their price objective on CSX from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company dropped their price objective on shares of CSX from $34.00 to $31.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Benchmark reiterated a “buy” rating and issued a $38.00 price objective on shares of CSX in a research report on Monday, January 27th. Robert W. Baird decreased their target price on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Finally, Loop Capital cut CSX from a “buy” rating to a “hold” rating and cut their price target for the company from $40.00 to $34.00 in a report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.55.

CSX Stock Performance

NASDAQ:CSX opened at $27.90 on Wednesday. The company has a 50-day moving average of $30.39 and a 200-day moving average of $32.63. The firm has a market cap of $52.58 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a twelve month low of $26.22 and a twelve month high of $37.10.

CSX (NASDAQ:CSX) last issued its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Analysts forecast that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.86%. This is a boost from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. CSX’s payout ratio is presently 29.05%.

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.