Sone Capital Management LLC Makes New $12.65 Million Investment in CSX Co. (NASDAQ:CSX)

Sone Capital Management LLC acquired a new stake in CSX Co. (NASDAQ:CSX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 391,882 shares of the transportation company's stock, valued at approximately $12,646,000. CSX makes up about 1.6% of Sone Capital Management LLC's holdings, making the stock its 16th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in shares of CSX by 14.7% in the fourth quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company's stock valued at $3,794,000 after purchasing an additional 15,029 shares during the last quarter. Marshall Financial Group LLC purchased a new stake in CSX during the fourth quarter worth about $1,084,000. Waycross Partners LLC increased its stake in shares of CSX by 7.0% in the fourth quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company's stock worth $19,990,000 after purchasing an additional 40,611 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of CSX by 1.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,061,143 shares of the transportation company's stock worth $34,243,000 after purchasing an additional 20,073 shares in the last quarter. Finally, Verde Servicos Internacionais S.A. increased its stake in shares of CSX by 38.4% in the fourth quarter. Verde Servicos Internacionais S.A. now owns 426,348 shares of the transportation company's stock worth $13,758,000 after purchasing an additional 118,355 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company's stock.

CSX Trading Up 0.5%

NASDAQ:CSX traded up $0.15 during mid-day trading on Thursday, reaching $30.64. 18,429,777 shares of the company's stock traded hands, compared to its average volume of 12,892,847. CSX Co. has a 12-month low of $26.22 and a 12-month high of $37.10. The firm has a market capitalization of $57.56 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 1.92 and a beta of 1.22. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The company has a 50 day moving average price of $28.89 and a 200-day moving average price of $31.73.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). CSX had a net margin of 23.95% and a return on equity of 28.15%. The business had revenue of $3.42 billion for the quarter, compared to analysts' expectations of $3.53 billion. On average, sell-side analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.13 per share. The ex-dividend date is Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.70%. CSX's dividend payout ratio is presently 31.14%.

Analyst Upgrades and Downgrades

CSX has been the subject of several recent research reports. Argus set a $32.00 target price on shares of CSX in a research note on Friday, April 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of CSX in a research note on Friday, March 7th. They set a "hold" rating and a $34.00 price objective for the company. Stifel Nicolaus reduced their price objective on shares of CSX from $37.00 to $34.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Evercore ISI reduced their price objective on shares of CSX from $35.00 to $33.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Finally, Loop Capital cut shares of CSX from a "buy" rating to a "hold" rating and reduced their price objective for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $33.90.

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.