Sequoia Financial Advisors LLC Buys 17,630 Shares of CSX Corporation (NASDAQ:CSX)

Sequoia Financial Advisors LLC grew its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 13.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 144,076 shares of the transportation company's stock after buying an additional 17,630 shares during the period. Sequoia Financial Advisors LLC's holdings in CSX were worth $4,240,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of CSX in the fourth quarter valued at approximately $780,194,000. Ameriprise Financial Inc. grew its holdings in CSX by 89.7% in the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company's stock valued at $673,025,000 after buying an additional 9,863,587 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in CSX by 471.9% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company's stock worth $217,808,000 after buying an additional 5,568,624 shares during the period. Fiduciary Management Inc. WI acquired a new stake in shares of CSX during the fourth quarter worth $178,259,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of CSX during the fourth quarter worth $117,133,000. 73.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on CSX. Royal Bank Of Canada lowered their price target on shares of CSX from $31.00 to $30.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 17th. Jefferies Financial Group lowered their target price on shares of CSX from $37.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Benchmark reaffirmed a "buy" rating and issued a $35.00 price objective on shares of CSX in a report on Thursday, April 17th. BMO Capital Markets reduced their target price on CSX from $36.00 to $35.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Finally, Evercore ISI decreased their price target on CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $34.14.

CSX Price Performance

CSX stock traded up $0.91 during midday trading on Tuesday, reaching $33.54. 7,990,670 shares of the stock were exchanged, compared to its average volume of 13,285,377. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.10. The company has a fifty day moving average price of $30.75 and a 200 day moving average price of $31.02. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.88 and a quick ratio of 0.75. The stock has a market capitalization of $63.00 billion, a PE ratio of 20.10, a P/E/G ratio of 2.88 and a beta of 1.24.

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%. As a group, analysts expect that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Friday, May 30th. CSX's dividend payout ratio (DPR) 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.