Farther Finance Advisors LLC Grows Holdings in CSX Corporation $CSX

Key Points

• Farther Finance Advisors LLC boosted its stake in CSX by 159.5% in Q4 to 73,410 shares (an additional 45,116 shares), valued at about $2.66 million.
• Research analysts maintain a consensus rating of "Moderate Buy" with a consensus price target of $42.20 (16 Buy, 8 Hold), while some firms have raised targets up to $50.
• CSX reported Q4 EPS of $0.39, missing estimates by $0.02 with slightly lower revenue year-over-year, and raised its quarterly dividend to $0.14 (annualized $0.56, ~1.3% yield).

Farther Finance Advisors LLC grew its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 159.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,410 shares of the transportation company's stock after purchasing an additional 45,116 shares during the quarter. Farther Finance Advisors LLC's holdings in CSX were worth $2,661,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Kingswood Wealth Advisors LLC boosted its position in CSX by 4.1% during the third quarter. Kingswood Wealth Advisors LLC now owns 8,324 shares of the transportation company's stock worth $296,000 after acquiring an additional 331 shares during the last quarter. Moloney Securities Asset Management LLC raised its stake in shares of CSX by 2.7% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 13,048 shares of the transportation company's stock valued at $463,000 after acquiring an additional 339 shares during the period. Gleason Group Inc. raised its stake in shares of CSX by 19.1% in the 4th quarter. Gleason Group Inc. now owns 2,646 shares of the transportation company's stock valued at $96,000 after acquiring an additional 425 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of CSX by 0.7% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,920 shares of the transportation company's stock valued at $2,660,000 after acquiring an additional 510 shares during the period. Finally, Crestwood Advisors Group LLC grew its stake in shares of CSX by 7.3% in the third quarter. Crestwood Advisors Group LLC now owns 7,800 shares of the transportation company's stock worth $277,000 after acquiring an additional 532 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CSX. Bank of America cut their target price on shares of CSX from $48.00 to $46.00 and set a "buy" rating on the stock in a research note on Thursday, March 12th. Benchmark restated a "buy" rating and issued a $46.00 price objective (up from $40.00) on shares of CSX in a research note on Friday. Wolfe Research increased their price target on shares of CSX from $44.00 to $46.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 7th. TD Cowen reiterated a "buy" rating on shares of CSX in a research note on Monday, January 12th. Finally, Jefferies Financial Group raised their target price on shares of CSX from $42.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday, March 3rd. Sixteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, CSX currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.20.

CSX Stock Performance

Shares of CSX opened at $43.32 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.69 and a debt-to-equity ratio of 1.38. The stock has a market cap of $80.61 billion, a P/E ratio of 28.13, a PEG ratio of 2.38 and a beta of 1.25. The company has a 50-day moving average of $41.09 and a two-hundred day moving average of $37.86. CSX Corporation has a 12-month low of $27.00 and a 12-month high of $43.61.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings results on Thursday, January 22nd. The transportation company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). The firm had revenue of $3.51 billion for the quarter, compared to analysts' expectations of $3.59 billion. CSX had a return on equity of 23.88% and a net margin of 20.50%.The business's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 earnings per share. As a group, research analysts predict that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from CSX's previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 27th. CSX's payout ratio is presently 36.36%.

Insider Buying and Selling

In related news, EVP Stephen Fortune sold 31,456 shares of the firm's stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $38.65, for a total value of $1,215,774.40. Following the sale, the executive vice president directly owned 82,034 shares of the company's stock, valued at approximately $3,170,614.10. This trade represents a 27.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Diana B. Sorfleet sold 90,000 shares of the firm's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $41.56, for a total transaction of $3,740,400.00. Following the completion of the sale, the chief accounting officer directly owned 165,613 shares in the company, valued at $6,882,876.28. This represents a 35.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 188,123 shares of company stock valued at $7,454,854. Insiders own 0.30% of the company's stock.

About CSX

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX's freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.

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