CSX Co. (NASDAQ:CSX) Shares Purchased by Rafferty Asset Management LLC

Rafferty Asset Management LLC increased its position in shares of CSX Co. (NASDAQ:CSX - Free Report) by 17.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 604,909 shares of the transportation company's stock after purchasing an additional 88,162 shares during the period. Rafferty Asset Management LLC's holdings in CSX were worth $19,520,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Accurate Wealth Management LLC boosted its position in CSX by 5.8% in the 4th quarter. Accurate Wealth Management LLC now owns 22,817 shares of the transportation company's stock valued at $725,000 after buying an additional 1,249 shares during the period. SeaCrest Wealth Management LLC raised its stake in CSX by 6.5% in the fourth quarter. SeaCrest Wealth Management LLC now owns 10,892 shares of the transportation company's stock worth $351,000 after buying an additional 665 shares in the last quarter. Pines Wealth Management LLC bought a new stake in CSX during the fourth quarter valued at about $311,000. Oak Thistle LLC boosted its position in CSX by 349.8% during the fourth quarter. Oak Thistle LLC now owns 29,413 shares of the transportation company's stock valued at $949,000 after purchasing an additional 22,874 shares in the last quarter. Finally, Park Avenue Securities LLC grew its stake in CSX by 9.0% in the fourth quarter. Park Avenue Securities LLC now owns 89,933 shares of the transportation company's stock valued at $2,902,000 after purchasing an additional 7,456 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

CSX has been the subject of several research analyst reports. Jefferies Financial Group decreased their price objective on shares of CSX from $37.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. lowered their price objective on shares of CSX from $38.00 to $37.00 and set an "overweight" rating for the company in a research note on Friday, January 24th. UBS Group reduced their target price on CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Bank of America boosted their price target on CSX from $30.00 to $31.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Finally, Wells Fargo & Company dropped their target price on CSX from $31.00 to $28.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, CSX currently has an average rating of "Moderate Buy" and an average price target of $33.90.

CSX Stock Down 2.0%

Shares of CSX traded down $0.63 during mid-day trading on Wednesday, reaching $30.60. The company's stock had a trading volume of 5,963,815 shares, compared to its average volume of 12,843,863. 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 12-month low of $26.22 and a 12-month high of $37.10. The stock has a market cap of $57.48 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22. The company's 50 day moving average is $28.88 and its 200 day moving average is $31.73.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (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 analysts' expectations of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. Equities analysts anticipate that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently announced 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. This represents a $0.52 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Friday, May 30th. CSX's payout ratio is 31.14%.

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.