CSX Co. (NASDAQ:CSX) Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC lifted its stake in shares of CSX Co. (NASDAQ:CSX) by 61.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,154 shares of the transportation company’s stock after purchasing an additional 5,382 shares during the period. Farther Finance Advisors LLC’s holdings in CSX were worth $418,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CSX. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in CSX during the 4th quarter valued at $27,000. Accredited Wealth Management LLC purchased a new position in shares of CSX during the fourth quarter valued at $29,000. Fourth Dimension Wealth LLC acquired a new position in CSX during the fourth quarter valued at $29,000. SBI Securities Co. Ltd. acquired a new position in CSX during the fourth quarter valued at $31,000. Finally, Sierra Ocean LLC purchased a new stake in CSX in the 4th quarter worth about $33,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CSX shares. Bank of America lifted their target price on CSX from $33.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday. BMO Capital Markets lowered their price objective on shares of CSX from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company dropped their price objective on shares of CSX from $31.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Benchmark reissued a “buy” rating and set a $35.00 target price on shares of CSX in a research note on Thursday, April 17th. Finally, Argus set a $32.00 price target on shares of CSX in a report on Friday, April 25th. Eight 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $34.14.

CSX Stock Performance

Shares of NASDAQ CSX opened at $32.56 on Tuesday. The business’s 50-day simple moving average is $29.85 and its 200-day simple moving average is $31.17. 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 52 week low of $26.22 and a 52 week high of $37.10. The firm has a market cap of $61.17 billion, a price-to-earnings ratio of 18.19, a P/E/G ratio of 1.92 and a beta of 1.24.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a net margin of 23.95% and a return on equity of 28.15%. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. As a group, equities research analysts expect that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Friday, May 30th. CSX’s dividend payout ratio is 31.14%.

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.