Cercano Management LLC Takes Position in CSX Co. (NASDAQ:CSX)

Cercano Management LLC acquired a new stake in shares of CSX Co. (NASDAQ:CSX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 150,870 shares of the transportation company's stock, valued at approximately $4,869,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in CSX during the fourth quarter valued at $27,000. Accredited Wealth Management LLC bought a new stake in CSX during the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. bought a new stake in CSX during the 4th quarter valued at approximately $31,000. Sierra Ocean LLC purchased a new position in CSX in the 4th quarter worth approximately $33,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in CSX by 219.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,040 shares of the transportation company's stock worth $34,000 after purchasing an additional 714 shares during the period. Institutional investors own 73.57% of the company's stock.

CSX Price Performance

Shares of CSX stock traded up $0.58 during trading hours on Thursday, reaching $28.95. The stock had a trading volume of 13,769,970 shares, compared to its average volume of 12,732,055. The stock's 50 day moving average is $28.83 and its 200 day moving average is $31.90. 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. The firm has a market capitalization of $54.38 billion, a PE ratio of 16.17, a PEG ratio of 1.92 and a beta of 1.22.

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 analysts' consensus estimates of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. Equities analysts expect that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.80%. CSX's dividend payout ratio is currently 31.14%.

Analysts Set New Price Targets

Several brokerages have commented on CSX. Stephens reiterated an "overweight" rating and issued a $38.00 price target on shares of CSX in a research note on Friday, January 24th. Stifel Nicolaus lowered their price target on CSX from $37.00 to $34.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Robert W. Baird dropped their target price on CSX from $39.00 to $38.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. Bank of America lowered their target price on shares of CSX from $33.00 to $30.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Finally, Wells Fargo & Company dropped their price objective on CSX from $31.00 to $28.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, CSX currently has a consensus rating of "Moderate Buy" and an average target price of $33.86.

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.