Concurrent Investment Advisors LLC Buys 9,094 Shares of CSX Corporation (NASDAQ:CSX)

Concurrent Investment Advisors LLC raised its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 20.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 53,175 shares of the transportation company's stock after buying an additional 9,094 shares during the period. Concurrent Investment Advisors LLC's holdings in CSX were worth $1,565,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CSX. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in CSX during the 4th quarter valued at approximately $27,000. Rossby Financial LCC bought a new position in CSX during the first quarter worth $28,000. Accredited Wealth Management LLC acquired a new position in CSX in the fourth quarter valued at $29,000. Fourth Dimension Wealth LLC acquired a new position in CSX in the fourth quarter valued at $29,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in CSX during the first quarter valued at $30,000. Institutional investors and hedge funds own 73.57% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CSX shares. BMO Capital Markets dropped their price target on CSX from $36.00 to $35.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Raymond James Financial reiterated an "outperform" rating and set a $33.00 target price (down previously from $34.00) on shares of CSX in a research report on Thursday, April 17th. The Goldman Sachs Group restated a "neutral" rating and issued a $35.00 price target on shares of CSX in a report on Monday, June 2nd. Jefferies Financial Group decreased their price target on shares of CSX from $37.00 to $33.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Finally, Barclays cut their price objective on shares of CSX from $35.00 to $31.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, CSX presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.45.

CSX Trading Down 1.6%

Shares of CSX opened at $33.05 on Tuesday. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.10. The firm has a market capitalization of $62.09 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 2.94 and a beta of 1.23. The firm's 50-day moving average price is $31.30 and its 200-day moving average price is $31.06. The company has a current ratio of 0.88, a quick ratio of 0.75 and a debt-to-equity ratio of 1.52.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings data 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 net margin of 22.66% and a return on equity of 26.42%. Sell-side analysts anticipate that CSX Corporation will post 1.83 EPS for the current year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a dividend of $0.13 per share. The ex-dividend date was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.57%. CSX's dividend payout ratio (DPR) is currently 31.14%.

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.

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