Sovereign Financial Group Inc. Boosts Stock Holdings in CSX Co. (NASDAQ:CSX)

Sovereign Financial Group Inc. raised its holdings in CSX Co. (NASDAQ:CSX) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,210 shares of the transportation company’s stock after purchasing an additional 577 shares during the period. Sovereign Financial Group Inc.’s holdings in CSX were worth $1,319,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CSX. Itau Unibanco Holding S.A. purchased a new position in CSX during the second quarter valued at approximately $26,000. MFA Wealth Advisors LLC purchased a new position in CSX during the second quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. purchased a new position in CSX during the first quarter valued at approximately $29,000. Fairscale Capital LLC purchased a new position in CSX during the second quarter valued at approximately $32,000. Finally, Strategic Financial Concepts LLC purchased a new position in CSX during the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Trading Up 0.7 %

Shares of CSX opened at $33.87 on Wednesday. The firm has a market cap of $66.21 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 1.91 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The firm has a 50 day moving average price of $33.93 and a 200-day moving average price of $34.05.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 EPS. As a group, equities research analysts forecast that CSX Co. will post 1.93 earnings per share for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is 26.37%.

Analysts Set New Price Targets

Several brokerages recently commented on CSX. JPMorgan Chase & Co. boosted their price objective on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Bank of America cut shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Monday, July 8th. Citigroup assumed coverage on shares of CSX in a research report on Wednesday. They set a “buy” rating and a $42.00 target price for the company. Stephens reiterated an “overweight” rating and set a $42.00 target price on shares of CSX in a research report on Tuesday, August 6th. Finally, Susquehanna lifted their target price on shares of CSX from $41.00 to $42.00 and gave the company a “positive” rating in a research report on Wednesday, October 2nd. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $39.19.

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.