Sabal Trust CO Buys 9,645 Shares of CSX Corporation (NASDAQ:CSX)

Sabal Trust CO boosted its stake in shares of CSX Corporation (NASDAQ:CSX) by 28.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 43,158 shares of the transportation company’s stock after buying an additional 9,645 shares during the quarter. Sabal Trust CO’s holdings in CSX were worth $1,270,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CSX. Wellington Management Group LLP boosted its holdings in shares of CSX by 14.7% in the 4th quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company’s stock valued at $3,794,000 after buying an additional 15,029 shares during the last quarter. CWA Asset Management Group LLC lifted its stake in CSX by 15.1% in the first quarter. CWA Asset Management Group LLC now owns 12,514 shares of the transportation company’s stock valued at $368,000 after acquiring an additional 1,642 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its stake in CSX by 9.8% in the first quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company’s stock valued at $1,141,000 after acquiring an additional 3,458 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of CSX by 61.4% in the 1st quarter. Farther Finance Advisors LLC now owns 14,154 shares of the transportation company’s stock valued at $418,000 after acquiring an additional 5,382 shares during the period. Finally, Cercano Management LLC acquired a new position in shares of CSX during the 4th quarter worth about $4,869,000. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Royal Bank Of Canada dropped their price objective on CSX from $31.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 17th. Jefferies Financial Group dropped their price target on CSX from $37.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft began coverage on CSX in a report on Friday, March 7th. They set a “hold” rating and a $34.00 price target for the company. BMO Capital Markets decreased their price objective on shares of CSX from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. Finally, Wells Fargo & Company cut their target price on shares of CSX from $31.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.14.

CSX Stock Up 0.0%

Shares of CSX opened at $32.49 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.75 and a debt-to-equity ratio of 1.52. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $37.10. The firm’s 50 day moving average is $30.44 and its 200-day moving average is $31.08. The stock has a market capitalization of $61.03 billion, a PE ratio of 19.46, a P/E/G ratio of 2.85 and a beta of 1.24.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. CSX had a return on equity of 26.42% and a net margin of 22.66%. Equities research analysts forecast that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

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

CSX Company 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.