NewEdge Advisors LLC Grows Stake in CSX Co. (NASDAQ:CSX)

NewEdge Advisors LLC boosted its position in CSX Co. (NASDAQ:CSX - Free Report) by 37.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 99,922 shares of the transportation company's stock after purchasing an additional 27,162 shares during the period. NewEdge Advisors LLC's holdings in CSX were worth $3,224,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in CSX. Joel Isaacson & Co. LLC grew its position in CSX by 2.4% during the fourth quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company's stock worth $421,000 after buying an additional 310 shares in the last quarter. Patrick M Sweeney & Associates Inc. lifted its stake in shares of CSX by 1.0% in the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company's stock valued at $1,027,000 after acquiring an additional 313 shares during the last quarter. West Branch Capital LLC boosted its stake in shares of CSX by 3.3% during the fourth quarter. West Branch Capital LLC now owns 10,317 shares of the transportation company's stock valued at $333,000 after purchasing an additional 332 shares in the last quarter. Alhambra Investment Management LLC grew its holdings in CSX by 4.3% during the 4th quarter. Alhambra Investment Management LLC now owns 8,292 shares of the transportation company's stock worth $268,000 after acquiring an additional 342 shares during the last quarter. Finally, Trust Point Inc. increased its holdings in CSX by 2.6% in the fourth quarter. Trust Point Inc. now owns 13,722 shares of the transportation company's stock valued at $443,000 after purchasing an additional 344 shares during the period. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. UBS Group dropped their price target on shares of CSX from $36.00 to $34.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Barclays dropped their price target on CSX from $35.00 to $31.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a report on Friday, March 7th. They set a "hold" rating and a $34.00 price target on the stock. Susquehanna lowered their price objective on shares of CSX from $37.00 to $35.00 and set a "positive" rating for the company in a research note on Thursday, April 17th. Finally, Evercore ISI cut their target price on shares of CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, CSX presently has an average rating of "Moderate Buy" and an average price target of $33.95.

CSX Stock Down 1.1 %

Shares of CSX traded down $0.30 during trading hours on Friday, reaching $27.84. 14,351,235 shares of the stock traded hands, compared to its average volume of 12,695,437. CSX Co. has a 52 week low of $26.22 and a 52 week high of $37.10. The company has a market cap of $52.30 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 1.92 and a beta of 1.23. The stock has a fifty day simple moving average of $29.52 and a 200 day simple moving average of $32.28. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

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

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from CSX's previous quarterly dividend of $0.12. CSX's dividend 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.