Sovereign Investment Advisors LLC Acquires New Position in CSX Co. (NASDAQ:CSX)

Sovereign Investment Advisors LLC acquired a new stake in CSX Co. (NASDAQ:CSX) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,437 shares of the transportation company’s stock, valued at approximately $272,000.

Several other large investors have also bought and sold shares of CSX. Valley Wealth Managers Inc. raised its holdings in CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after purchasing an additional 480 shares during the period. SBI Securities Co. Ltd. acquired a new stake in CSX in the fourth quarter worth $31,000. Sierra Ocean LLC acquired a new stake in CSX in the fourth quarter worth $33,000. Center for Financial Planning Inc. raised its holdings in CSX by 205.7% in the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after purchasing an additional 720 shares during the period. Finally, Atala Financial Inc acquired a new stake in CSX in the fourth quarter worth $36,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSX has been the topic of several analyst reports. Robert W. Baird cut their target price on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Raymond James restated an “outperform” rating and set a $37.00 price objective (down from $38.00) on shares of CSX in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CSX in a report on Friday, March 7th. They set a “hold” rating and a $34.00 price objective on the stock. Barclays dropped their price objective on shares of CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Finally, Royal Bank of Canada dropped their price objective on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

CSX Stock Performance

Shares of CSX opened at $30.01 on Friday. The firm has a 50-day moving average of $32.23 and a 200-day moving average of $33.49. CSX Co. has a one year low of $28.98 and a one year high of $38.03. The company has a market cap of $56.86 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, equities analysts forecast that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is 29.05%.

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.