Bleakley Financial Group LLC Boosts Holdings in CSX Corporation (NASDAQ:CSX)

Bleakley Financial Group LLC raised its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 18.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,483 shares of the transportation company's stock after purchasing an additional 12,438 shares during the period. Bleakley Financial Group LLC's holdings in CSX were worth $2,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in CSX. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of CSX during the fourth quarter worth $27,000. Rossby Financial LCC acquired a new stake in CSX in the 1st quarter worth approximately $28,000. Accredited Wealth Management LLC purchased a new stake in CSX during the 4th quarter worth approximately $29,000. Fourth Dimension Wealth LLC acquired a new stake in shares of CSX during the fourth quarter worth $29,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of CSX during the first quarter valued at $30,000. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CSX has been the subject of a number of research analyst reports. Sanford C. Bernstein restated a "market perform" rating and issued a $36.00 target price (up previously from $33.00) on shares of CSX in a research note on Tuesday, July 8th. Argus set a $32.00 price objective on CSX in a research note on Friday, April 25th. Raymond James Financial reaffirmed an "outperform" rating and set a $37.00 target price (up previously from $33.00) on shares of CSX in a report on Tuesday. Wells Fargo & Company upped their target price on CSX from $28.00 to $35.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. Finally, Citigroup raised their price target on shares of CSX from $36.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $34.82.

CSX Price Performance

Shares of NASDAQ:CSX traded down $0.22 during trading on Wednesday, reaching $33.26. 11,485,306 shares of the company's stock traded hands, compared to its average volume of 13,415,131. The firm has a market cap of $62.48 billion, a PE ratio of 19.92, a P/E/G ratio of 3.00 and a beta of 1.23. The company has a 50-day simple moving average of $32.05 and a 200-day simple moving average of $31.13. The company has a quick ratio of 0.75, a current ratio of 0.88 and a debt-to-equity ratio of 1.52. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a net margin of 22.66% and a return on equity of 26.42%. The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. As a group, analysts predict that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.56%. CSX's payout ratio is 31.14%.

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.