Sagefield Capital LP Acquires New Position in CSX Co. (NASDAQ:CSX)

Sagefield Capital LP acquired a new stake in CSX Co. (NASDAQ:CSX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 150,367 shares of the transportation company's stock, valued at approximately $4,852,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in CSX in the fourth quarter valued at approximately $27,000. Accredited Wealth Management LLC acquired a new stake in shares of CSX in the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of CSX in the 4th quarter worth approximately $31,000. Sierra Ocean LLC acquired a new stake in CSX during the fourth quarter valued at approximately $33,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in CSX by 219.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,040 shares of the transportation company's stock valued at $34,000 after purchasing an additional 714 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company's stock.

CSX Trading Up 0.1%

Shares of CSX stock opened at $31.32 on Friday. The stock has a market capitalization of $58.84 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The company has a 50-day simple moving average of $28.81 and a 200 day simple moving average of $31.78. CSX Co. has a 12-month low of $26.22 and a 12-month high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. Research analysts expect that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Friday, May 30th. CSX's payout ratio is 31.14%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CSX. Wells Fargo & Company dropped their price objective on shares of CSX from $31.00 to $28.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Argus set a $32.00 price objective on shares of CSX in a research note on Friday, April 25th. Jefferies Financial Group decreased their target price 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. Stifel Nicolaus decreased their target price on shares of CSX from $37.00 to $34.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of CSX in a research report on Friday, March 7th. They issued a "hold" rating and a $34.00 target price for the company. Seven 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, the stock currently has an average rating of "Moderate Buy" and an average target price of $33.90.

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.

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