Everhart Financial Group Inc. Acquires 1,537 Shares of CSX Co. (NASDAQ:CSX)

Everhart Financial Group Inc. raised its stake in shares of CSX Co. (NASDAQ:CSX) by 4.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,312 shares of the transportation company’s stock after acquiring an additional 1,537 shares during the quarter. Everhart Financial Group Inc.’s holdings in CSX were worth $980,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CSX. Norges Bank bought a new stake in CSX during the fourth quarter valued at about $780,194,000. Ameriprise Financial Inc. raised its holdings in CSX by 89.7% in the fourth quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company’s stock worth $673,025,000 after purchasing an additional 9,863,587 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of CSX by 40.5% during the fourth 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 buying an additional 6,730,316 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of CSX by 471.9% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock valued at $217,808,000 after buying an additional 5,568,624 shares during the last quarter. Finally, Fiduciary Management Inc. WI bought a new stake in shares of CSX in the 4th quarter valued at about $178,259,000. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

NASDAQ:CSX opened at $32.39 on Friday. The firm’s fifty day moving average is $29.63 and its two-hundred day moving average is $31.30. The firm has a market cap of $60.85 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 1.92 and a beta of 1.24. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. CSX Co. has a one year low of $26.22 and a one year high of $37.10.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, April 16th. The transportation company reported $0.34 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 analysts’ expectations of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. Research analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.61%. CSX’s payout ratio is 31.14%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CSX. UBS Group decreased their target price on shares of CSX from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Stifel Nicolaus dropped their target price on CSX from $37.00 to $34.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Raymond James reissued an “outperform” rating and issued a $33.00 price target (down previously from $34.00) on shares of CSX in a report on Thursday, April 17th. Susquehanna dropped their price target on CSX from $37.00 to $35.00 and set a “positive” rating on the stock in a research note on Thursday, April 17th. Finally, 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. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently 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.