CSX Corporation $CSX Shares Purchased by Southeast Asset Advisors LLC

Key Points

• Southeast Asset Advisors LLC increased its holdings in CSX Corporation by 79.2%, owning 35,582 shares worth approximately $1,047,000 after acquiring an additional 15,728 shares in the first quarter.
• Analysts maintain a Moderate Buy rating for CSX, with one analyst promoting it to a Strong Buy, while varying target prices are set between $35.00 and $38.00.
• CSX announced a quarterly dividend of $0.13 per share, reflecting a 1.5% dividend yield and a payout ratio of 32.10%.

Southeast Asset Advisors LLC boosted its position in CSX Corporation (NASDAQ:CSX - Free Report) by 79.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,582 shares of the transportation company's stock after purchasing an additional 15,728 shares during the quarter. Southeast Asset Advisors LLC's holdings in CSX were worth $1,047,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Associated Banc Corp grew its holdings in shares of CSX by 0.9% during the first quarter. Associated Banc Corp now owns 40,384 shares of the transportation company's stock worth $1,189,000 after buying an additional 356 shares in the last quarter. Portside Wealth Group LLC grew its stake in CSX by 1.3% during the 1st quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company's stock valued at $804,000 after acquiring an additional 361 shares in the last quarter. Ullmann Wealth Partners Group LLC raised its holdings in CSX by 1.3% in the 1st quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company's stock valued at $862,000 after acquiring an additional 363 shares during the last quarter. LRI Investments LLC lifted its stake in CSX by 4.8% in the 1st quarter. LRI Investments LLC now owns 8,254 shares of the transportation company's stock worth $243,000 after purchasing an additional 375 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. lifted its stake in CSX by 1.2% in the 1st quarter. Patrick M Sweeney & Associates Inc. now owns 32,205 shares of the transportation company's stock worth $948,000 after purchasing an additional 378 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company's stock.

CSX Stock Up 0.4%

Shares of NASDAQ CSX traded up $0.13 during midday trading on Thursday, hitting $32.67. The company's stock had a trading volume of 19,023,930 shares, compared to its average volume of 17,121,650. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63. The firm has a market capitalization of $60.91 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 2.42 and a beta of 1.25. The business's fifty day simple moving average is $34.35 and its two-hundred day simple moving average is $31.67. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.25.

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

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $0.13 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 1.6%. CSX's dividend payout ratio (DPR) is 32.10%.

Analysts Set New Price Targets

Several equities research analysts recently commented on CSX shares. Raymond James Financial increased their price target on CSX from $33.00 to $37.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. raised their price objective on shares of CSX from $34.00 to $41.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Susquehanna reaffirmed a "neutral" rating and set a $35.00 target price on shares of CSX in a research note on Tuesday, June 24th. Wells Fargo & Company increased their price target on shares of CSX from $35.00 to $37.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised shares of CSX from a "hold" rating to a "buy" rating and set a $40.00 price target on the stock in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.

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.