PFG Advisors Buys 10,160 Shares of CSX Corporation (NASDAQ:CSX)

PFG Advisors grew its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 110.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,360 shares of the transportation company's stock after acquiring an additional 10,160 shares during the quarter. PFG Advisors' holdings in CSX were worth $570,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in shares of CSX by 5.5% during the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company's stock worth $525,000 after purchasing an additional 849 shares in the last quarter. LPL Financial LLC raised its position in CSX by 7.8% during the fourth quarter. LPL Financial LLC now owns 1,712,112 shares of the transportation company's stock worth $55,250,000 after acquiring an additional 124,615 shares in the last quarter. Congress Wealth Management LLC DE acquired a new stake in CSX in the fourth quarter valued at $1,087,000. Modern Wealth Management LLC grew its position in shares of CSX by 67.1% in the 4th quarter. Modern Wealth Management LLC now owns 16,180 shares of the transportation company's stock valued at $535,000 after acquiring an additional 6,495 shares during the period. Finally, Zions Bancorporation N.A. grew its position in shares of CSX by 7.8% in the 4th quarter. Zions Bancorporation N.A. now owns 7,326 shares of the transportation company's stock valued at $236,000 after acquiring an additional 533 shares during the period. 73.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CSX. Evercore ISI cut their price objective on CSX from $35.00 to $33.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Sanford C. Bernstein reissued a "market perform" rating and issued a $36.00 price target (up from $33.00) on shares of CSX in a report on Tuesday, July 8th. UBS Group reduced their price objective on CSX from $36.00 to $34.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Jefferies Financial Group dropped their price target on CSX from $37.00 to $33.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Finally, Royal Bank Of Canada decreased their price objective on CSX from $31.00 to $30.00 and set a "sector perform" rating on the stock in a report on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

CSX Stock Performance

Shares of NASDAQ:CSX traded up $0.76 during midday trading on Friday, reaching $35.76. 31,706,226 shares of the company traded hands, compared to its average volume of 16,334,290. The firm's fifty day moving average price is $32.69 and its two-hundred day moving average price is $31.26. The company has a quick ratio of 0.75, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $37.10. The firm has a market capitalization of $66.67 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 3.13 and a beta of 1.23.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. The business had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. CSX's revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 earnings per share. On average, equities analysts expect that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.45%. CSX's dividend payout ratio is 32.10%.

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.