Raymond James & Associates Acquires 128,941 Shares of CSX Co. (NASDAQ:CSX)

Raymond James & Associates raised its holdings in CSX Co. (NASDAQ:CSX - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,810,990 shares of the transportation company's stock after purchasing an additional 128,941 shares during the quarter. Raymond James & Associates owned approximately 0.09% of CSX worth $67,133,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CSX. Miracle Mile Advisors LLC boosted its holdings in CSX by 0.3% in the 1st quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company's stock valued at $3,839,000 after purchasing an additional 303 shares during the period. High Net Worth Advisory Group LLC boosted its stake in shares of CSX by 1.7% in the fourth quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company's stock valued at $614,000 after buying an additional 304 shares during the period. Stratos Wealth Advisors LLC grew its position in CSX by 1.1% during the fourth quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company's stock worth $978,000 after buying an additional 304 shares in the last quarter. Cornercap Investment Counsel Inc. increased its stake in CSX by 0.3% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company's stock worth $4,169,000 after acquiring an additional 309 shares during the period. Finally, FCA Corp TX raised its holdings in CSX by 0.3% in the 4th quarter. FCA Corp TX now owns 115,572 shares of the transportation company's stock valued at $4,007,000 after acquiring an additional 339 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company's stock.

Analyst Ratings Changes

CSX has been the subject of several recent analyst reports. Royal Bank of Canada cut their price objective on shares of CSX from $37.00 to $36.00 and set a "sector perform" rating for the company in a research report on Thursday, April 18th. Susquehanna lifted their price objective on shares of CSX from $42.00 to $44.00 and gave the company a "positive" rating in a research note on Thursday, March 28th. TD Cowen boosted their price objective on shares of CSX from $32.00 to $36.00 and gave the company a "market perform" rating in a research report on Thursday, January 25th. Benchmark reaffirmed a "buy" rating and issued a $40.00 target price on shares of CSX in a report on Thursday, April 18th. Finally, UBS Group reduced their price target on shares of CSX from $46.00 to $44.00 and set a "buy" rating on the stock in a research note on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.00.

CSX Trading Up 0.8 %

Shares of NASDAQ:CSX traded up $0.28 during trading on Friday, reaching $33.85. 6,618,097 shares of the company traded hands, compared to its average volume of 14,806,096. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The firm has a market capitalization of $66.17 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 2.01 and a beta of 1.19. The business's fifty day moving average is $36.23 and its 200-day moving average is $34.54.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.01. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company's revenue was down .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 EPS. As a group, analysts forecast that CSX Co. will post 1.95 EPS for the current year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.42%. This is a boost from CSX's previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Wednesday, February 28th. CSX's payout ratio is presently 26.37%.

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.