Sowell Financial Services LLC Purchases 18,864 Shares of CSX Corporation (NASDAQ:CSX)

Sowell Financial Services LLC raised its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 100.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,611 shares of the transportation company's stock after purchasing an additional 18,864 shares during the quarter. Sowell Financial Services LLC's holdings in CSX were worth $1,107,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in CSX. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in CSX during the fourth quarter valued at approximately $27,000. Accredited Wealth Management LLC acquired a new stake in CSX during the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC acquired a new stake in CSX during the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. acquired a new position in shares of CSX in the 4th quarter worth approximately $31,000. Finally, Sierra Ocean LLC acquired a new position in shares of CSX in the 4th quarter worth approximately $33,000. 73.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CSX has been the topic of several recent analyst reports. Citigroup reduced their target price on CSX from $39.00 to $36.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Evercore ISI reduced their target price on CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Raymond James Financial reissued an "outperform" rating and issued a $33.00 target price (down from $34.00) on shares of CSX in a report on Thursday, April 17th. The Goldman Sachs Group reissued a "neutral" rating and issued a $35.00 target price on shares of CSX in a report on Monday, June 2nd. Finally, Benchmark reissued a "buy" rating and issued a $35.00 target price on shares of CSX in a report on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, CSX has a consensus rating of "Moderate Buy" and a consensus target price of $34.14.

CSX Trading Down 0.6%

Shares of CSX stock traded down $0.18 on Friday, hitting $32.06. 30,972,624 shares of the company's stock traded hands, compared to its average volume of 13,320,180. The firm's 50-day moving average price is $30.08 and its two-hundred day moving average price is $31.16. The stock has a market capitalization of $60.23 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 2.82 and a beta of 1.24. CSX Corporation has a one year low of $26.22 and a one year high of $37.10. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.88 and a quick ratio of 0.75.

CSX (NASDAQ:CSX - Get Free Report) last issued its earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). The business had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. CSX had a net margin of 22.66% and a return on equity of 26.42%. On average, research analysts expect that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Friday, May 30th. CSX's payout ratio is 31.14%.

About CSX

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.