CSX Corporation (NASDAQ:CSX) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its holdings in CSX Corporation (NASDAQ:CSX) by 13.9% during the 1st quarter, Holdings Channel reports. The fund owned 144,076 shares of the transportation company’s stock after acquiring an additional 17,630 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in CSX were worth $4,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently modified their holdings of CSX. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of CSX during the 4th quarter valued at $27,000. Accredited Wealth Management LLC acquired a new position in shares of CSX during the 4th quarter valued at $29,000. Fourth Dimension Wealth LLC acquired a new position in shares of CSX during the 4th quarter valued at $29,000. SBI Securities Co. Ltd. acquired a new position in shares of CSX during the 4th quarter valued at $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in shares of CSX by 219.0% during the 4th 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 period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CSX has been the topic of several research analyst reports. Argus set a $32.00 price target on CSX in a research report on Friday, April 25th. The Goldman Sachs Group reiterated a “neutral” rating and set a $35.00 price target on shares of CSX in a research report on Monday, June 2nd. Jefferies Financial Group decreased their target price on CSX from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Susquehanna restated a “neutral” rating and issued a $35.00 target price on shares of CSX in a report on Tuesday. Finally, Barclays decreased their target price on CSX from $35.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $34.14.

CSX Stock Up 1.0%

NASDAQ:CSX opened at $32.91 on Friday. The firm has a market capitalization of $61.82 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 2.85 and a beta of 1.24. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.10. The company has a current ratio of 0.88, a quick ratio of 0.75 and a debt-to-equity ratio of 1.52. The business’s fifty day moving average price is $30.64 and its 200 day moving average price is $31.06.

CSX (NASDAQ:CSX) last released its quarterly earnings data 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 firm had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. CSX had a net margin of 22.66% and a return on equity of 26.42%. On average, sell-side analysts forecast that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a dividend of $0.13 per share. The ex-dividend date was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.58%. CSX’s payout ratio is 31.14%.

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.