DAVENPORT & Co LLC Raises Stake in CSX Corporation (NASDAQ:CSX)

DAVENPORT & Co LLC lifted its position in CSX Corporation (NASDAQ:CSX - Free Report) by 6.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,717 shares of the transportation company's stock after acquiring an additional 10,534 shares during the quarter. DAVENPORT & Co LLC's holdings in CSX were worth $5,377,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CSX. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of CSX in the fourth quarter valued at about $27,000. Accredited Wealth Management LLC bought a new stake in shares of CSX in the fourth quarter valued at about $29,000. Fourth Dimension Wealth LLC bought a new stake in shares of CSX in the fourth quarter valued at about $29,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of CSX in the first quarter valued at about $30,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of CSX in the fourth quarter valued at about $31,000. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CSX has been the subject of several recent research reports. Susquehanna restated a "neutral" rating and issued a $35.00 price objective on shares of CSX in a report on Tuesday, June 24th. Benchmark reiterated a "buy" rating and issued a $35.00 target price on shares of CSX in a report on Thursday, April 17th. Wells Fargo & Company decreased their price target on shares of CSX from $31.00 to $28.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Jefferies Financial Group cut their price objective on shares of CSX from $37.00 to $33.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Finally, Barclays reduced their price objective on shares of CSX from $35.00 to $31.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $34.14.

CSX Stock Down 0.5%

Shares of CSX traded down $0.18 during mid-day trading on Friday, hitting $33.43. 5,638,784 shares of the company traded hands, compared to its average volume of 13,318,513. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.10. The company has a quick ratio of 0.75, a current ratio of 0.88 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $62.80 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 2.94 and a beta of 1.23. The business has a 50 day moving average of $31.20 and a 200 day moving average of $31.06.

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 (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 for the quarter, compared to analyst estimates of $3.53 billion. Equities research analysts anticipate that CSX Corporation will post 1.83 EPS for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $0.13 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.56%. CSX's dividend payout ratio is currently 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.