Cerity Partners LLC Purchases 43,204 Shares of CSX Corporation (NASDAQ:CSX)

Cerity Partners LLC grew its position in CSX Corporation (NASDAQ:CSX - Free Report) by 15.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 317,634 shares of the transportation company's stock after acquiring an additional 43,204 shares during the period. Cerity Partners LLC's holdings in CSX were worth $9,348,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. bought a new position in CSX in the 4th quarter worth approximately $27,000. Accredited Wealth Management LLC bought a new position in CSX in the 4th quarter worth approximately $29,000. Fourth Dimension Wealth LLC bought a new position in CSX in the 4th quarter worth approximately $29,000. Barnes Dennig Private Wealth Management LLC bought a new position in CSX in the 1st quarter worth approximately $30,000. Finally, Rossby Financial LCC bought a new position in CSX in the 1st quarter worth approximately $28,000. Institutional investors own 73.57% of the company's stock.

CSX Trading Down 0.5%

Shares of CSX stock traded down $0.19 on Friday, hitting $34.32. The stock had a trading volume of 16,109,683 shares, compared to its average volume of 13,497,927. CSX Corporation has a twelve month low of $26.22 and a twelve month high of $37.10. The firm has a market cap of $64.46 billion, a P/E ratio of 20.57, a PEG ratio of 2.98 and a beta of 1.23. 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 company has a fifty day moving average price of $32.16 and a two-hundred day moving average price of $31.15.

CSX (NASDAQ:CSX - Get Free Report) last announced its 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). The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. CSX had a return on equity of 26.42% and a net margin of 22.66%. As a group, analysts forecast that CSX Corporation 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 Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Friday, August 29th. CSX's payout ratio is presently 31.14%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CSX. UBS Group dropped their price objective on shares of CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Jefferies Financial Group dropped their price objective on shares of CSX from $37.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. BMO Capital Markets dropped their target price on shares of CSX from $36.00 to $35.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Bank of America upgraded shares of CSX from a "neutral" rating to a "buy" rating and upped their target price for the company from $34.00 to $42.00 in a research report on Thursday. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $35.00 target price on shares of CSX in a research report on Monday, June 2nd. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $35.14.

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.