Stratos Wealth Advisors LLC purchased a new stake in CSX Co. (NASDAQ:CSX) in the first quarter, HoldingsChannel reports. The institutional investor purchased 2,714 shares of the transportation company’s stock, valued at approximately $203,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Cigna Investments Inc. New raised its position in CSX by 1.1% during the 4th quarter. Cigna Investments Inc. New now owns 26,360 shares of the transportation company’s stock worth $1,637,000 after purchasing an additional 276 shares during the last quarter. Suntrust Banks Inc. raised its position in CSX by 15.2% during the 4th quarter. Suntrust Banks Inc. now owns 342,170 shares of the transportation company’s stock worth $21,259,000 after purchasing an additional 45,146 shares during the last quarter. Shelton Capital Management raised its position in CSX by 33.2% during the 4th quarter. Shelton Capital Management now owns 111,623 shares of the transportation company’s stock worth $6,935,000 after purchasing an additional 27,800 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in CSX by 5.3% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 359,815 shares of the transportation company’s stock worth $22,355,000 after purchasing an additional 18,062 shares during the last quarter. Finally, Thoroughbred Financial Services LLC bought a new position in CSX during the 4th quarter worth $221,000. Institutional investors own 77.64% of the company’s stock.
Shares of CSX traded up $0.18 during trading hours on Friday, hitting $78.40. The stock had a trading volume of 1,151,233 shares, compared to its average volume of 3,391,213. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.81 and a quick ratio of 1.68. The company has a market cap of $62.77 billion, a PE ratio of 20.42, a P/E/G ratio of 1.32 and a beta of 1.29. CSX Co. has a 1-year low of $58.47 and a 1-year high of $80.73.
CSX (NASDAQ:CSX) last issued its earnings results on Tuesday, April 16th. The transportation company reported $1.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.11. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3 billion. CSX had a return on equity of 26.13% and a net margin of 27.84%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the business posted $0.78 EPS. Analysts expect that CSX Co. will post 4.34 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.24 dividend. The ex-dividend date is Thursday, May 30th. This represents a $0.96 annualized dividend and a dividend yield of 1.22%. CSX’s dividend payout ratio is presently 25.00%.
Several research analysts have recently weighed in on the company. Zacks Investment Research raised CSX from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research report on Thursday, January 24th. ValuEngine raised CSX from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. BMO Capital Markets lifted their price objective on CSX from $76.00 to $78.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 17th. They noted that the move was a valuation call. TD Securities lifted their price objective on CSX from $79.00 to $81.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Finally, SNS Securities lowered CSX from a “positive” rating to a “neutral” rating in a research report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $79.58.
In other news, VP Angela C. Williams sold 9,560 shares of the firm’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $79.14, for a total value of $756,578.40. Following the completion of the sale, the vice president now directly owns 14,607 shares in the company, valued at approximately $1,155,997.98. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 4.83% of the company’s stock.
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CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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