CSX Co. (NASDAQ:CSX) Position Increased by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC increased its stake in CSX Co. (NASDAQ:CSX) by 2,414.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 506,555 shares of the transportation company’s stock after purchasing an additional 486,410 shares during the period. Silvercrest Asset Management Group LLC’s holdings in CSX were worth $16,347,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Royal Bank of Canada lifted its holdings in shares of CSX by 9.6% in the 4th quarter. Royal Bank of Canada now owns 10,505,516 shares of the transportation company’s stock worth $339,013,000 after purchasing an additional 916,987 shares during the last quarter. Rafferty Asset Management LLC raised its stake in CSX by 17.1% during the 4th quarter. Rafferty Asset Management LLC now owns 604,909 shares of the transportation company’s stock valued at $19,520,000 after acquiring an additional 88,162 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in CSX during the 4th quarter valued at $560,000. ProShare Advisors LLC raised its stake in CSX by 19.0% during the 4th quarter. ProShare Advisors LLC now owns 2,499,790 shares of the transportation company’s stock valued at $80,668,000 after acquiring an additional 398,730 shares in the last quarter. Finally, Quantinno Capital Management LP raised its stake in CSX by 29.6% during the 4th quarter. Quantinno Capital Management LP now owns 189,712 shares of the transportation company’s stock valued at $6,122,000 after acquiring an additional 43,384 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of NASDAQ CSX opened at $31.32 on Friday. 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 stock has a market capitalization of $58.84 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 1.92 and a beta of 1.22. The stock’s fifty day simple moving average is $28.81 and its 200 day simple moving average is $31.78. CSX Co. has a 52-week low of $26.22 and a 52-week high of $37.10.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 28.15% and a net margin of 23.95%. As a group, sell-side analysts forecast that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Friday, May 30th. CSX’s payout ratio is 31.14%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CSX shares. Jefferies Financial Group cut their target price on CSX from $37.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. UBS Group cut their target price on CSX from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Evercore ISI cut their target price on CSX from $35.00 to $33.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Raymond James reaffirmed an “outperform” rating and set a $33.00 target price (down previously from $34.00) on shares of CSX in a research note on Thursday, April 17th. Finally, Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and cut their target price for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.