Sowell Financial Services LLC lifted its position in shares of CSX Corporation (NASDAQ:CSX – Free Report) by 100.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,611 shares of the transportation company’s stock after buying an additional 18,864 shares during the quarter. Sowell Financial Services LLC’s holdings in CSX were worth $1,107,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of CSX in the fourth quarter worth $780,194,000. Ameriprise Financial Inc. increased its position in shares of CSX by 89.7% in the fourth quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company’s stock worth $673,025,000 after purchasing an additional 9,863,587 shares during the period. Bank of New York Mellon Corp increased its position in shares of 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 worth $753,507,000 after purchasing an additional 6,730,316 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of CSX by 471.9% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock worth $217,808,000 after purchasing an additional 5,568,624 shares during the period. Finally, Fiduciary Management Inc. WI bought a new position in shares of CSX in the fourth quarter worth $178,259,000. Institutional investors and hedge funds own 73.57% of the company’s stock.
Analyst Upgrades and Downgrades
CSX has been the topic of a number of recent analyst reports. Stifel Nicolaus decreased their price target on CSX from $37.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Raymond James Financial reiterated an “outperform” rating and issued a $33.00 target price (down previously from $34.00) on shares of CSX in a research report on Thursday, April 17th. Evercore ISI decreased their target price on CSX from $35.00 to $33.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Jefferies Financial Group decreased their target price on CSX from $37.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Finally, Argus set a $32.00 target price on CSX in a research report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.14.
CSX Stock Performance
NASDAQ:CSX opened at $32.24 on Thursday. The stock has a market cap of $60.56 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 2.81 and a beta of 1.24. The company has a current ratio of 0.88, a quick ratio of 0.75 and a debt-to-equity ratio of 1.52. The stock’s 50-day moving average is $29.99 and its 200-day moving average is $31.18. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.10.
CSX (NASDAQ:CSX – Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. CSX had a return on equity of 26.42% and a net margin of 22.66%. Equities research analysts anticipate that CSX Corporation will post 1.83 earnings per share for the current year.
CSX Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Friday, May 30th. CSX’s dividend payout ratio is currently 31.14%.
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.
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