SageView Advisory Group LLC Boosts Stake in CSX Co. (NASDAQ:CSX)

SageView Advisory Group LLC raised its position in CSX Co. (NASDAQ:CSX) by 13.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,374 shares of the transportation company’s stock after purchasing an additional 858 shares during the quarter. SageView Advisory Group LLC’s holdings in CSX were worth $264,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CSX. Norges Bank purchased a new position in shares of CSX in the fourth quarter valued at approximately $757,276,000. Price T Rowe Associates Inc. MD boosted its position in CSX by 18.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock valued at $2,246,893,000 after buying an additional 9,914,656 shares during the period. Capital International Investors increased its position in shares of CSX by 14.3% during the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after acquiring an additional 5,041,679 shares during the period. Lazard Asset Management LLC raised its stake in shares of CSX by 10.4% in the third quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock valued at $897,624,000 after acquiring an additional 2,748,738 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its stake in shares of CSX by 43.8% in the third quarter. Adage Capital Partners GP L.L.C. now owns 4,752,117 shares of the transportation company’s stock valued at $146,128,000 after acquiring an additional 1,446,685 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wells Fargo & Company began coverage on CSX in a report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target on the stock. Stifel Nicolaus raised their target price on shares of CSX from $37.00 to $39.00 and gave the company a “buy” rating in a report on Friday, April 12th. Bank of America lowered their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Susquehanna increased their price objective on shares of CSX from $42.00 to $44.00 and gave the company a “positive” rating in a research report on Thursday, March 28th. Finally, UBS Group decreased their price objective on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and an average price target of $37.82.

CSX Stock Performance

Shares of CSX opened at $33.31 on Friday. The company’s 50 day simple moving average is $33.65 and its 200-day simple moving average is $35.12. The firm has a market cap of $65.12 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 1.71 and a beta of 1.19. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period last year, the firm posted $0.48 EPS. CSX’s revenue for the quarter was down .8% on a year-over-year basis. As a group, equities analysts predict that CSX Co. will post 1.96 EPS for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.44%. The ex-dividend date was Friday, May 31st. CSX’s dividend payout ratio is presently 26.37%.

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.