West Paces Advisors Inc. Raises Stake in CSX Co. (NASDAQ:CSX)

West Paces Advisors Inc. increased its position in CSX Co. (NASDAQ:CSX - Free Report) by 5,308.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,386 shares of the transportation company's stock after acquiring an additional 70,066 shares during the quarter. CSX comprises approximately 0.5% of West Paces Advisors Inc.'s holdings, making the stock its 29th biggest position. West Paces Advisors Inc.'s holdings in CSX were worth $2,101,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CSX. Geode Capital Management LLC lifted its position in shares of CSX by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company's stock valued at $1,339,555,000 after acquiring an additional 726,507 shares in the last quarter. Invesco Ltd. raised its stake in CSX by 13.5% during the 4th quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company's stock valued at $810,076,000 after purchasing an additional 2,977,212 shares during the period. Fisher Asset Management LLC raised its stake in CSX by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company's stock valued at $805,345,000 after purchasing an additional 299,536 shares during the period. Norges Bank purchased a new position in CSX in the 4th quarter worth approximately $780,194,000. Finally, Bank of New York Mellon Corp lifted its holdings in CSX by 40.5% in the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company's stock worth $753,507,000 after purchasing an additional 6,730,316 shares in the last quarter. Institutional investors own 73.57% of the company's stock.

CSX Trading Up 2.0%

Shares of CSX traded up $0.63 during midday trading on Tuesday, hitting $32.61. The stock had a trading volume of 24,562,701 shares, compared to its average volume of 13,200,345. The stock's 50 day moving average is $29.32 and its 200 day moving average is $31.32. The firm has a market cap of $61.26 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.92 and a beta of 1.24. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. CSX Co. has a 1 year low of $26.22 and a 1 year high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly 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 firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, analysts forecast that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a $0.13 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.59%. CSX's payout ratio is 31.14%.

Analyst Upgrades and Downgrades

CSX has been the subject of a number of research analyst reports. Benchmark reaffirmed a "buy" rating and set a $35.00 price objective on shares of CSX in a report on Thursday, April 17th. Citigroup cut their target price on shares of CSX from $39.00 to $36.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Jefferies Financial Group reduced their price target on shares of CSX from $37.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CSX in a report on Friday, March 7th. They set a "hold" rating and a $34.00 price objective for the company. Finally, UBS Group reduced their target price on CSX from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, CSX presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.95.

CSX Company 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.