CSX Co. (NASDAQ:CSX) Shares Acquired by Petredis Investment Advisors LLC

Petredis Investment Advisors LLC lifted its position in shares of CSX Co. (NASDAQ:CSX) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,518 shares of the transportation company’s stock after acquiring an additional 1,273 shares during the quarter. Petredis Investment Advisors LLC’s holdings in CSX were worth $1,987,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in CSX by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company’s stock valued at $1,339,555,000 after purchasing an additional 726,507 shares during the period. Invesco Ltd. raised its stake in shares of CSX by 13.5% during the 4th quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company’s stock worth $810,076,000 after buying an additional 2,977,212 shares during the period. Fisher Asset Management LLC lifted its position in shares of CSX by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock valued at $805,345,000 after buying an additional 299,536 shares in the last quarter. Norges Bank acquired a new stake in CSX in the 4th quarter valued at $780,194,000. Finally, Bank of New York Mellon Corp grew its stake in CSX by 40.5% in the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after acquiring an additional 6,730,316 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Trading Down 0.8%

Shares of CSX opened at $31.98 on Tuesday. CSX Co. has a 12-month low of $26.22 and a 12-month high of $37.10. The firm has a market capitalization of $60.08 billion, a P/E ratio of 17.87, a P/E/G ratio of 1.92 and a beta of 1.24. The firm has a 50-day moving average price of $29.32 and a 200 day moving average price of $31.32. 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) last posted its earnings results 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 firm 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%. Sell-side analysts forecast that CSX Co. will post 1.83 EPS for the current year.

CSX Announces Dividend

The firm also recently disclosed 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 yield of 1.63%. The ex-dividend date of this dividend is Friday, May 30th. CSX’s dividend payout ratio is presently 31.14%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of CSX in a report on Friday, March 7th. They set a “hold” rating and a $34.00 price objective on the stock. Royal Bank of Canada decreased their price target on shares of CSX from $31.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 17th. UBS Group lowered their price objective on CSX from $36.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Barclays reduced their target price on CSX from $35.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Finally, Benchmark restated a “buy” rating and issued a $35.00 target price on shares of CSX in a research report on Thursday, April 17th. Eight investment 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 has an average rating of “Moderate Buy” and an average price target of $33.95.

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.